BELARUS, RUSSIA SIGN GAS PROTOCOL

SOURCE: GAZPROM.RU

27 December 2020 BELARUS, RUSSIA SIGN GAS PROTOCOL

Russian gas giant Gazprom said it had signed a protocol with Belarus on how to calculate natural gas prices for gas supplies in 2021. Though the document does not say any exact figures, officials in Minsk said the agreed prices were “on a par with the levels in 2020 and the price this year was $127 per 1,000 cubic meters.” Gazprom yet seems the biggest winner of that battle. Firstly, Belarus had to clear its debts. Secondly, no matter what the situation is on the global energy market, a fixed gas price means regular income. Also, as 2020 has shown so far, Russia for months traded its gas commodities to Europe for just a fraction of what Belarus had paid. Little is known whether the upcoming year will bring more stability to the market.

After arduous and lengthy price talks, Belarusian and Russian officials met on December 24 in St. Petersburg to sign a protocol on gas prices. The talks were attended by the CEO of Gazprom Alexey Miller, Belarusian Energy Minister Viktor