Belarus’ Energy Ministry views oil, gas agreements with Russia as win-win solution

Belarus-Russia arrangements on natural gas will help reduce tariffs for the real economy sector in the future. Belarusian Energy Minister Vladimir Potupchik made the statement during the plenary session of the Belarusian Energy and Ecology Forum on 12 October, BelTA has learned.

The Energy Minister pointed out that a lot of work had been done together with Russia to set natural gas prices. “Taking into account the decisions that were made and the protocol that was signed brilliant prospects are opening up with a view to further reducing costs and tariffs for the real economy sector. We will continue working on that,” remarked the official.

The Energy Ministry believes that if natural gas is priced at $117 per 1,000m2, it will be possible to offer acceptable tariffs for the real economy sector while keeping extremely low tariffs on heating and electrical energy for Belarusian households. “Still $117 per 1,000m3 is twice as much as the natural gas price Russian energy companies pay. It means we have a huge reserve of durability and advantages of the Belarusian energy system are used to offer acceptable tariffs to the real economy sector and extremely low tariffs to Belarusian households,” stated Vladimir Potupchik.

The Belarusian Energy Ministry views the oil and gas agreements with Russia as a win-win solution, Belarusian Energy Minister Vladimir Potupchik told reporters at the Belarusian Energy and Ecology Forum on 11 October, BelTA has learned. “The protocol provides a comprehensive solution to the issues that we had in the oil and gas industry. The protocol itself is actually a compromise that takes into account the interests of both countries and encourages us to have positive expectations for the development of the Eurasian Economic Union,”. Belarus annulled the decision to raise the tariffs for pumping oil through Belarus while Russia withdrew all restrictions on the supply of oil to Belarus, said Vladimir Potupchik.

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