OREANDA-NEWS. On 02 September 2008 was announced, that Russia will make up its mind in autumn 2008 what price Belarus will be paying for natural gas in 2009 and whether it will get Russia’s state loan, Russia’s Ambassador to Belarus Alexander Surikov told a news conference.

“Prime Ministers Sergei Sidorsky and Vladimir Putin addressed natural gas and the state loan, but no decisions were made. Discussions were postponed until autumn,” the diplomat said.

“The gas price depends on oil product prices, so September or October will be the best time to identify the gas price for next year,” Surikov said.

He explained that Russia will decide whether it will extend a loan to Belarus in autumn. “Russia is ready to back Belarus,” he said.

Earlier, Surikov said Belarus may have to pay over U.S. USD 200 per 1,000 cubic meters of gas in 2009.

Belarus still believes it will be able to pay USD 140.

The Belarusian government and Gazprom on December 31, 2006 signed a four-year contract for supplies and transit of natural gas. Belarus is expected to pay 67%, 80% and 90% of the European gas price in 2008, 2009, and 2010, respectively, minus transport charges. Belarus is to import 21.6 billion cubic meters of gas in 2008.

The first quarter gas price had been set at USD 119 per 1,000 cubic meters; in the second quarter, Belarus paid USD 127.9 per 1,000 cubic meters.

Russia in 2007 extended a 15-year USD 1.5 billion loan to Belarus at an annual interest rate of 0.75% above Libor. A five-year grace was granted to start repaying the principal debt, although interests will have to be paid.

Belarus had asked Russia to lend USD 1.5 billion in order to compensate for increasing prices of energy supplies.