Updated at 11:30,08-12-2016

Belarus' past debt to Gazprom doubles in September

Belaruss external overdue debt for the imported natural gas was Br601.8bn ($106.7mn on the exchange rate of the National Bank) in October.


Interfax-Zapad news agency has learnt this from the National Statistics Committee of Belarus.

The overdue debt was Br267.4bn ($52.36mn) on September 1. So, the debt to Gazprom increased twofold during September. Belarus did not have a past debt for gas on August 1, 2011.

Gazprom reported that Beltransgaz asked the company for a delay in paying for gas in the third quarter and also pay $245 per thousand cubic meters instead of $279.16 as specified in the contract. Belarus imported 4.231bn cubic meters of gas in from July to September. The underpayment in the third quarter is $34.16 for thousand cubic meters, or $144.5mn.

Belarus's internal overdue debt for energy demonstrates fast growth.

The Statistics Committee says the internal overdue debt for fuel and power resources was Br1.1 trillion on October 1, 2011, having increased twofold during 9 months with the September 1.7fold growth. The overdue debt for energy resources rose three times in the last 12 months.

Belarus and Gazprom were reported to have reached an agreement on granting a delay in Q4 payment and distributing the debt amount in equal proportions to 2012, when the agreement on decreasing coefficient will come into force.