Saturday, January 23, 2021
Home Oil & Gas Belarus and Russia sign agreements for oil and gas supplies

Belarus and Russia sign agreements for oil and gas supplies

Belarus has signed oil contracts for 2021 with a number of major suppliers from Russia, announced Prime Minister Roman Golovchenko.

“Work is underway to sign contracts to supply oil to Belarus,” Mr Golovchenko told Belarus 1 TV channel. Agreements have already been signed with a number of major companies to supply oil by pipeline next year. Some technicalities are being settled with some other suppliers.”

The head of government expressed confidence that by the end of the year absolutely all contracts for the supply of oil to Belarus will be signed.

“These matters are traditionally addressed in the run-up to New Year,” he added. “There are no tensions this year, these matters are being dealt with as planned. We have agreed with the government of the Russian Federation that we will not do it at the eleventh hour.”

Speaking about the volume of oil refining at Belarusian refineries in 2021, the Prime Minister noted that it will be determined by economic feasibility.

“However, the Russian side is ready to supply as much as possible. If it is profitable for us to refine 18 million tonnes, we will refine it,” he explained. “It will depend on the situation on the market.”

Belarus has also signed a protocol on prices for natural gas for the year 2021 after Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Vladimir Semashko and Belarusian Energy Minister Viktor Karanik met with the Chairman of the Gazprom Management Committee Aleksei Miller.

The sides agreed on next year’s natural gas prices that are virtually on par with those of 2020. The level of prices is much lower than the one determined by the formula meant to set natural gas prices for Belarus. The formula is part of the intergovernmental agreement on natural gas prices, which was signed in 2011.

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