Gazprom To Buy Belarusian Gas Transit System

Belarusian Prime Minister Syarhey Sidorski (left) and Gazprom chief Aleksei Miller at a joint press conference in Moscow on January 1 (epa)
May 18, 2007 -- Russia's natural gas monopoly Gazprom says it has signed a deal to buy a 50-percent stake in Beltranzhaz, Belarus's gas transport system, by 2010.

According to the deal, Gazprom will make the purchase in four steps between 2007 and 2010, buying a 12.5 percent share for $625 million at each stage.

Earlier today, Russian and Belarusian officials had indicated that the deal would be postponed.

(ITAR-TASS, Reuters, AP, AFP)