New Supply Deal for Belarus

摘要

Energy bills in Belarus look set to shrink by half as Moscow prepares to slash rates for both oil and gas, but significant strings are attached. The final terms of a new oil and gas supply deal are to be put in place by Dec. 23. Earlier this year, Belarus reportedly cut a deal in which Russia agreed to supply gas to the country for $2.2 billion less and oil for $700 million less in 2012, in exchange for Belarus handing over its last remaining 50% stake in gas transit company Beltranzgas to Russian gas giant Gazprom. The deal, made while the Belarusian economy was in free fall, gave Russia control of a key transit channel to Europe and earned Belarus a significant financial lifeline (Dec 12’11).