Belarus avoids cold new year by bowing to Gazprom demand for price increase

The five-year contract will require Belarus to pay $100 per 1,000 cubic metres, a steep rise on the previous tariff of $45, but a reduction from the $105 that Gazprom had demanded. The agreement requires Belarus to pay gradually increasing prices after the current contract until world market levels are reached by 2011.

“A mid-term agreement was reached on gas prices to Belarus and on transit shipments to Europe,” Gazprom boss Alexei Miller told a press briefing at the Russian gas monopoly’s headquarters.

Guardian