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19.12.2013

Next years Russian gas price for Belarus at $167 21

15:16, — Economics

Next years Russian gas price for Belarus at $167

In 2014 Belarus will have to pay about $167 per 1,000 m3 of Russian natural gas.

Belarusian Deputy Energy Minister Viktor Karankevich told media on 19 December.

BelTA has learned that it is a tentative price while the final price will be revealed on 1 January 2014. The Deputy Energy Minister noted that the natural gas price Belarus paid in 2013 was $163 per 1,000 m3, which was even lower than the price paid in 2012.

According to Viktor Karankevich, this level of price has been brought about by Belarus-Russia bilateral agreements that specify a pricing scheme. As from 1 January 2015 the Single Economic Space member states Belarus, Russia, and Kazakhstan are supposed to switch to equal-income prices but in addition to the SES intergovernmental agreement there are two more intergovernmental agreement on gas matters. Those were signed by Belarus and Russia in November 2011 and stipulate that if either of the parties fails to reach equal-income prices as of 1 January 2015, then the natural gas pricing scheme for Belarus will remain the way it was in 2013-2014, said the official.

It has been reported that the Russian Federation will not reach equal-income prices in 2015 because it has decided to freeze these prices for the real sector in 2014. It is likely that in 2015 we will use the formula we have now, explained the Belarusian Deputy Energy Minister.

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