Russian gas monopoly OAO Gazprom (GAZP.RS) Wednesday said it had raised its stake in Belarussian pipeline operator Beltransgaz to 25% from 12.5%, the Intefax news agency reported.
Under an agreement signed at the end of last year, Gazprom will buy 50% of Beltransgaz for $2.5 billion paid in instalments through 2010.
The deal followed a dispute over deliveries of Russian gas through Belarus and gives the Russian gas monopoly greater control over supplies to markets in Central and Western Europe.