After a series of meetings at the level of ministries and Deputy Prime Ministers, the last of which was held last week, the Russian and Belarusian sides had previously agreed on a new pricing scheme for Russian gas, Kommersant reports, citing sources familiar with the discussions.

As the newspaper notes, the price of gas for Minsk will drop to about $100 per 1 thousand cubic meters from the current $132, and the formula of its definition will change completely. Now in the formula in dollar terms are taken into account the price of gas on Yamal, the cost of transportation to Byelorussia, storage and sales in the local market. The new formula will be fully ruble, said sources familiar with the negotiations. This will reduce the risk of Belarus related to the fluctuation of the dollar.

According to interlocutors of the edition, from 2017 the price of gas for Belarus will be determined by the average price at the unified gas supply system (UGSS) of Russia multiplied by the multiplying factor. For 2017, the average price is determined by approximately 4.05 million RUB per 1 thousand cubic meters and multiplying factor of approximately 1,48. Thus, the price for Belarus in 2017 will be about 6 thousand rbl. for 1 thousand cubic meters. For the remaining months of 2016 will be set a fixed price of 6.3 thousand rubles per 1 thousand cubic meters.

Read also: Naftohaz shakes. European gas is again cheaper than the Russian

The parties also agreed that the increasing ratio will gradually decrease, and by 2025 (when, according to arrangements, the EAEU member States should create a single gas market) will be equal to one. In other words, Belarus by this time will receive gas on average, for the same price as Russian consumers, the newspaper notes.

If the new conditions are approved, Belarus will pay the debt to Gazprom, including penalties, at the old price, and Russia will fully restore frozen during the conflict the oil supply in the country. A major stumbling block, according to interlocutors of the edition, the question remains, at what point are applied arrangement. Belarus offers to apply from 1 July, the Russian side – from 1 August. The amount of debt for gas for the six months amounts to about $300 million.

The sources added that although the scheme agreed at the working level, it has yet to approve the at the highest.

For the Russian side in General, according to experts, reduction of prices for gas for Minsk was inevitable if Moscow wanted to continue the policy of integration within the EEU.

Russia will reduce gas prices for Belarus by 30% – media 26.08.2016

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