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Lukashenko and Putin reach agreement on next year's gas price

This is the 4th meeting between Presidents of Russia and Belarus since the start of 2021

Lukashenko and Putin reach agreement on next year's gas price

St.Petersburg, July 14 – Neftegaz.RU. Vladimir Putin and Alexander Lukashenko have agreed to maintain the price of Russian gas next year at the current year’s level.
The talks between the 2 leaders lasted more than 5 hours.

Kremlin spokesman Dmitry Peskov said:
  • It was decided that the price for natural gas for Belarus in 2022 will not be indexed and will remain at the level of the year 2021
Belarus purchases gas from Russia this year at the price of $128.5 per 1,000 m3.
The contracts between Gazprom and Belarus for gas supplies and gas transportation across the country are effective until the end of 2021.

The politicians discussed also terms for new Russian loans and steps to increase cooperation in energy and taxes, the situation in the spheres of economy and international relations.

Alexander Lukashenko noted:
  • Our economy has powerful links with the Russian economy
  • We preserved many cooperative relations with Russia and did not follow the same path as other republics, particularly the republic to our south
  • We have not severed our ties
  • For this reason, we have preserved all our industries and even built up our capacities in some sectors, this is also thanks to Russia’s investment
  • Indeed, financially, we were always hard pressed, and you know why, Russia was helping us a lot in this regard as well
  • And we are reverently trying to perform our loan obligations, I mean loans that have been issued, and we will deliver on our commitments regardless of the cost
The presidents also agreed on credit support for Belarus due to the tax maneuver in Russia [reduction of the export duty on oil to 0% by 2024 and a simultaneous increase in the mineral extraction tax].
The Belarusian authorities estimated that in 2019–2024 the country will lose a total of $11 billion in the aftermath of lowered budget revenues and higher expenditure on purchasing raw materials by refineries.

Belarus - seen as a close ally of Russia - serves as an important transit route for Russian oil & gas to Europe.
Around 20% of Russian gas passes through Belarus on its way to the EU, with the bulk going predominantly to Germany.

Author: Elena Alifirova

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