Energy Ministers of Russia and Belarus Nikolai Shulginov and Viktor Karankevich signed a protocol on Russian gas prices for Minsk for 2022, the press service of the Belarusian Energy Ministry said.
“The protocol determines the procedure for setting prices for the supply of natural gas to Belarus in 2022. The specific level of gas prices will be fixed in a joint document with Gazprom, based on the conditions of 2021,” the message says.
Earlier, during a meeting of the Supreme State Council of the Union State, Russian President Vladimir Putin said that Minsk buys Russian gas seven to eight times cheaper than it costs on European spot markets. He added that gas prices for Belarus are also three to four times cheaper than for other buyers who have signed long-term contracts with Russia.
Earlier, an energy crisis began in Europe, due to which gas prices began to rise. Prices rose against the backdrop of calm weather, which led to a serious drop in wind power generation, the approaching heating season and uncertainty about the launch of the Nord Stream 2 gas pipeline. In addition, on September 10, Putin said that fuel is becoming more expensive due to the policy of the European Commission with an emphasis on exchange mechanisms in determining gas prices.
On October 27, Putin instructed Gazprom CEO Alexei Miller to increase gas storage facilities in Europe after Russian storage facilities are full. After that, the price of the November TFF futures on the ICE Futures exchange decreased.
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