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Russia and Belarus signed protocol on 2022 gas price

Russia will leave the price for Belarus for next year, 2022, unchanged. There is also a plan to conclude an agreement on the unification of oil & oil products markets

Russia and Belarus signed protocol on 2022 gas price

Source: Belarusian Ministry of Energy

Moscow, November 9 - Neftegaz.RU. Russian Energy Minister Nikolay Shulginov and Belarusian Minister of Energy Viktor Karankevich signed today a protocol on the procedure for setting the 2022 prices for the natural gas supply to Minsk, with the specific level yet to be announced.

The document was signed following the bilateral meeting of the ministers in Moscow.
The statement said:
  • Specific gas prices will be set out in a joint document with Gazprom on the basis of the conditions in 2021
The price of Belarus’s oil & gas imports from Russia has remained relatively stable and low.
The faster the pace of oil & gas price rises on the world market, the larger the implicit subsidies Russia gives Belarus.

Russian President Vladimir Putin said that Minsk buys Russian gas 7 times cheaper than it costs on European spot markets.
Belarus expected the price for Russian gas to remain at $128.5 per 1,000 m3 in 2022.

In September, Russia and Belarus agreed to form a common gas market.
The principles of functioning and regulation of the total gas market must be developed by July 2022.
By December 2023 signed additions to the Allied Program, which determine the relevant mechanisms and the timing of their implementation.

To read the news in Russian

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