Gazprom to Increase Efficiency of Beltransgaz

Gazprom has said that it is taking steps to improve the operational efficiency of Belarusian infrastructure and distribution company Beltransgaz, with efforts taken to increase cooperation on trade, investment and transport between the company and the government of the Republic of Belarus.

The announcement will see the Management Committee of Gazprom work to further an agreement signed between Gazprom and the Belarusian government in November of last year, following Gazprom's acquisition of the Belarus's 50 per cent stake in Beltransgaz. The acquisition brought Gazprom's share in the company to 100 per cent.

Gazprom said it had already implemented a number of measures to improve the "production, marketing, financial and economic activities of Beltransgaz, with a view to improve the company's efficiency", and was in the process of auditing Beltransgaz's technical assets. The audit will enable Gazprom to complete proposals for the improvement of those assets, including transmission and underground storage. It will also help to shape the three- and ten-year plans for Beltransgaz, as well as the General Scheme of Gas Supply to the Republic of Belarus. 

The company is also preparing for the name change of Beltransgaz, with the documents necessary to rename the company to Gazprom Transgaz Belarus now prepared. 

Completed work on the changes is expected for the end of 2012.

Gazprom notes that the improvements will help to further a deepening relationship with Belarus, who were last year the second largest sales market for Russian gas in the former USSR. Last year, Belarus availed of 20.6 billion cubic metres, 20 per cent of Gazprom's sales in the CIS in 2011.

The country also acted as a major transit route for Russian gas, carrying 21 per cent, 31.3 billion cubic metres of gas, to Europe last year.