Beltransgaz to be sold in secret

• 21.07.2011, 13:14

Belarus will sell the second 50% stake in Beltransgaz to Gazprom this year.

This statement was made by Heorhy Kuznyatsou, the chairman of the State Property Committee, at a press conference in Minsk today, Interfax-Zapad news agency reports.

“The government’s stake in Beltransgaz will be sold this year. The project is nearly ready, but you may know that negotiations have been postponed until autumn,” Kuznyatsou said.

He confirmed that the stake was estimated at $2.5bn.

“Holding negotiations is the most difficult thing. It would not be a problem if only purchase and sale were discussed. But this deal touches upon a great number of additional conditions: prices, tariffs and so on. As soon as these difficult matters are solved, the deal will go smoothly,” Kuznyatsou said. “I think this will happen in autumn,” he added answering a question about the estimated date of the deal.

The chairman of the State Property Committee noted that public and media may not be information about the deal on sale of 50% of Beltransgaz’s shares.

“I don’t think there’s a need to mark this event with Champagne and inform wide public. When we sold the first block of shares in Beltransgaz some years ago, you, journalists, didn’t even know about it. You were running around Minsk looking for a place we met for the deal,” the head of the State Property Committee said.

“Meanwhile, difficult additional conditions were being discussed with a Gazprom representative in the Beltransgaz supervisory board. I suppose the same will happen this time,” he continued.