Beltransgaz bonds now in stock exchange

Belarusian company Beltransgaz has started floating its bonds on the Belarusian Currency and Stock Exchange (BCSE), BelTA learnt from representatives of the share market office of the BCSE stock market trading department.

Between November 3, 2008 and February 2, 2009 Beltransgaz exchange-traded registered interest-bearing inconvertible bonds will be floated on the BCSE as forward deals. Their exchange number is BCSE-00002. The nominal value of one bond stands at Br5 million.

Beltransgaz bonds have been registered at the BCSE following an application of Belgazprombank.

Beltransgaz bonds are also allowed for exchange trade as non-listed stock.

Beltransgaz delivers natural gas to domestic customers and transports gas via the country. The company operates around 7,000 km of gas pipelines, which diameter varies between 100 mm and 1,400 mm, and services the Belarusian section of the Gazprom-owned transcontinental pipeline Yamal-Europe. With a view to setting up a Belarusian-Russian gas transportation joint venture, on May 18, 2007 the State Property Committee of Belarus and OAO Gazprom signed a contract for selling 50% of Beltransgaz shares for $2.5 billion. Gazprom is supposed to pay $625 million for 12.5% of Beltransgaz shares every year between 2007 and 2010. At present Gazprom owns 25% of Beltransgaz shares.