Belarus and Russia Sign New Gas Transit Agreement

Russia and Belarus have signed a supplementary agreement to their existing gas transit contract.

This agreement follows on the heels of a dispute that saw gas supplies to Europe temporarily interrupted.

Gazprom has agreed to a $0.43 increase in transit fees for 2010 and will pay Belarus $1.88 for shipping 1,000 cubic meters of natural gas to a distance of 100 kilometers.

The countries settled their dispute last week, with Gazprom resumed supplies of natural gas to Belarus in full after receiving payment for outstanding bills, while Belarus received payment from Gazprom in transit fees for using its territory for delivering gas to Europe.

About 80 per cent of Russian gas exported to other European countries, through Belarus.