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Beltransgaz to be Renamed Gazprom Transgaz Belarus

Source: www.gulfoilandgas.com 4/5/2013, Location: Asia

Beltransgaz, a wholly-owned subsidiary of Gazprom, will be renamed Gazprom Transgaz Belarus. On April 4, 2013 Alexander Lukashenko, President of the Republic of Belarus signed a Decree granting Beltransgaz the right to use in its title the official short name of the Republic of Belarus.

The renaming process will be finished as soon as the Charter of Gazprom Transgaz Belarus is registered with the Minsk City Executive Committee.

Renaming of the Belarusian company is explained by the internal principles of naming Gazprom's subsidiaries and the necessity to conform with the common corporate identity of the companies within its structure.

On November 25, 2011, in furtherance of the intergovernmental agreement between the Russian Federation and the Republic of Belarus, Gazprom and the State Property Committee of the Republic of Belarus entered into the purchase and sale contract for a 50 per cent stake in Beltransgaz. Taking into account the 50 per cent stake in Beltransgaz acquired by Gazprom between 2007 and 2010, the Company's full ownership in Beltransgaz amounted to 100 per cent.

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