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 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.
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