EGF Gazprom Monitor, Issue 6, May 2011

A Snapshot Of Key Developments In The External Relations Of The Russian Gas Sector

The President of Belarus, Alexander Lukashenko, seems to be optimistic about the possibility of obtaining Russian credits to rescue the Belarusian economy. On May 17, he stated that Moscow was ready to lend Minsk $6 billion in 2011. However, the Kremlin responded by suggesting that it will only lend $1 billion and that even this amount will only be possible in combination with the sale of a number of Belarusian assets, notably a 50 percent stake in Beltransgas. Gazprom already holds a 50 percent stake in the company.