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Gazprom and Beltransgaz settle issue of payments for gas supplied in second half of 2011

November 29/2011
( -- In furtherance of the accords reached on November 25, Gazprom and Beltransgaz signed yesterday an addendum to the contract on the volumes and terms of gas supplies to the Republic of Belarus and gas transit via the Republic between 2007 and 2011.
Pursuant tothe document, Beltransgaz shall partially pay for natural gas supplied by Gazprom in the second half of 2011 at the rate of USD 244.8 per 1,000 cubic meters, instead of the prices for the third and the fourth quarters calculated on the basis of the contract (USD 279.16 and USD 305.72 respectively).
The remaining amount of payment for Russian gas supplied in the second half of 2011 will be settled by Beltransgaz in monthly installments during 2012.

Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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