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Russia may raise oil product supplies to Belarus 10–15% in 2019

Staff Writer | September 27, 2018
Russia may raise oil product supplies for needs of the Belarusian petrochemical industry by 10–15% in 2019, talks on heavy oil products continue, ambassador to Belarus Mikhail Babich said Wednesday.
Mikhail Babich
Asia   Ambassador to Belarus Mikhail Babich
“I support a proposal of the Belarusian partners that the volume (of oil product supplies for the Belarusian petrochemical industry) will be increased by 10–15% in 2019 compared to 2018,” he said.

“How much will be needed for consumption, the development of petrochemical production (in Belarus), so much will be supplied as a result of joint negotiations,” he added.

Belarusian President Alexander Lukashenko said on September 22 that Russia and Belarus developed two options of solving issues with customs collection from oil supplies and supplies of heavy oil products from Russia and the most suitable option is to be chosen soon.

Moscow and Minsk will determine indicative volumes of Russian oil product supplies to Belarus, which will be binding, but will envisage the possibility of their revision during a year in case of objective necessity, Babich said.

He also said that previous agreements on the price of Russian gas for Minsk and mechanisms of its compensation remain in force, and all payments will be made.

“The price of gas was established for 2018–2019, it will remain as signed in the agreement. Those mechanisms of compensation for the price of gas are also in force and will not face any revisions. All payments that are to be made under this agreement will be made,” Babich said.