“Gazprom” board of directors approves purchase of 50% of “Beltransgaz” shares

The board of directors of “Gazprom” approved the purchase of 50% of “Beltransgaz” shares on April 25. The company’s press service informed about it.
“Gazprom” is going to buy 50% of “Beltransgaz” shares for 2.5 billion USD. The Belarusian authorities and “Gazprom” signed a contract about creation of a joint Belarusian-Russian gas-transport association, supplies and transit of gas through Belarus on December 31, 2006.

A contract concerning the purchase of “Beltransgaz” shares should be signed till June 1, 2007. The payment will be made in four stages in the period from 2007 till 2010. “Gazprom” will be buying 12.5% of the Belarusian company’s shares every year.