Russian state gas producer OAO Gazprom (GAZP.RS) has agreed to pay Belarus $2.5 billion for a 50% stake in the country's pipeline operator Beltransgaz, taking full ownership of the company, the company said Friday.
Russian state gas producer OAO Gazprom (GAZP.RS) has agreed to pay
Belarus
$2.5
billion for a 50% stake in the country's pipeline operator Beltransgaz, taking
full ownership of the company, the company said Friday.
The takeover is part of a larger deal unveiled by Russian Prime Minister
Vladimir Putin earlier Friday, under which
Moscow
agreed to cut gas prices to
Minsk
by
more than a half.
In 2006, Gazprom bought half of Beltransgaz--also for $2.5 billion.
The deal limits the risk of another cut-off of Russian gas supplies to
Europe
. Transit
through both
Belarus
and
Ukraine
has
been affected on several occasions in recent years by pricing disputes.
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