Updated at 14:58,21-10-2016

Lukashenka offers Russia refineries-for-gas swap

17-10-2012, 13:20
Lukashenka offers Russia refineries-for-gas swap

Belarusian President Alyaksandr Lukashenka says his country is prepared to sell its oil refineries to Russia but in exchange wants rights to join in natural-gas extraction projects in Russia.

Belarus has two oil refineries and Russian companies have shown an interest in purchasing them -- particularly the Mozyr refinery with a capacity to process some 95,000 barrels of oil per day.

Lukashenka says a deal could be reached but Belarus would want rights, as a foreigner, to help develop gas fields in Russia, and therefore receive gas at a lower price and receive a discount on oil processed at Belarusian refineries owned by Russia.

Lukashenka, who was speaking during a news conference in Minsk for Russian-language media outlets, praised the Russia-Belarus Union as "an example" of integration.