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TT Business Intelligence Report Vol. 1, No. 33, 1 November 2002 Business Intelligence, Crime, Corruption and Debt in C&E Europe and the former Soviet Union  UPCOMING CONFERENCES INTERNATIONAL PROFESSIONAL CONFERENCES' "MONEY LAUNDERING IN CENTRAL ANDEASTERN EUROPE" To take place on 6-7 November 2002 at Andel's Hotel, Prague, CzechRepublic. For further information, tel: +44 (0)20 7529 8906, fax: +44(0)7387 4647, email: [email protected], W: www.ipc-conferences.co.uk/prague PRAGUE BUSINESS JOURNAL'S "THE NEW FACE OF NATO" CONFERENCE & EXHIBITION To take place on 20 November 2002 at the Marriott Hotel, Prague, CzechRepublic. For further information, tel: +420 (2) 4608 6524, email:[email protected], W: www.pbj.cz/events/nato.htm LVA'S "11th INTERNATIONAL TRANSPORT FORUM OF THE C.I.S. AND THE BALTIC STATES"To take place on 11-14 December 2002 at the Grand Marina Hotel,Barcelona, Spain. For further information, tel: +44 (0)20 8795 2970,fax: +44 (0)8795 2977, email: [email protected], W: www.lva.co.uk EUROMONEY'S "CENTRAL & EASTERN EUROPEAN ISSUERS & INVESTORS FORUM" To take place on 14-15 January 2003 at the Hotel Inter-Continental,Vienna, Austria. For further information, tel: +44 (0)20 7779 8968,email: [email protected], W: www.euromoneyconferences.com BELARUS KGB EXPELS RUSSIAN POLITICAL LEADER FROM MINSK The Belarusian KGB detained Union of Rightist Forces (SPS) leader BorisNemtsov on his arrival at a Minsk airport on 23 October and promptly puthim on a plane back to Moscow, Belarusian and Russian media reported.Nemtsov, accompanied by State Duma Deputy Speaker Iryna Khakamada (SPS),planned to attend a conference on Belarusian-Russian integration inMinsk. Khakamada, although not detained, chose to return to Moscow withNemtsov. An unnamed KGB official told Interfax that more than $50,000and "literature aimed at destabilizing Belarus" were confiscated fromNemtsov. "We received a phone call today in the morning warning thatNemtsov is going to bring a large sum of money in hard currency into theRepublic of Belarus to support his allies," KGB spokesman Fyodar Kotaucommented. "I think there is no need to name these allies. Everybodyremembers the well-known conversation about overthrowing thelegitimately elected president of our country by joint efforts," headded. Kotau was apparently referring to the transcript of a telephoneconversation between Nemtsov and Belarusian opposition leader AnatolLyabedzka -- published in Russia and Belarus in September -- in whichthe two politicians seemed to discuss plans to oust President AlyaksandrLukashenka with assistance from the Kremlin. (RFE/RL 24.x.02) NEMTSOV SAYS EXPULSION FROM BELARUS WAS KGB PROVOCATION Nemtsov told ORT on 23 October that his expulsion from Belarus that daywas "a large-scale provocation against the Russia-Belarus Union."Nemtsov said that he and fellow SPS leader Khakamada were separated fromthe rest of an SPS delegation at the Minsk airport by Belarusian KGBofficers. The KGB officials showed them a folder of documents and apackage of U.S. dollars and accused them of bringing "subversiveliterature and money to the anti-Lukashenka opposition." Nemtsov said hehad never seen the file or the money before and charged that BelarusianPresident Lukashenka bears responsibility for the "provocation." Lastmonth's transcript of a telephone conversation between Nemtsov andLyabedzka in the Moscow newspaper "Sovetskaya Rossiya," causing a smallpolitical sensation. (RFE/RL 24.x.02) BULGARIA CREDITORS OF FORMERLY STATE-OWNED BALKAN AIRLINES VOTE TO LIQUIDATECOMPANY The creditors of the formerly state-owned Balkan Airlines have voted toliquidate the company, the local press reported. The decision came at ameeting between creditors and trustees of the company at the Sofia CityCourt. The main creditors, the State Receivables Collection Agency, theAir Traffic Services Authority, and Sofia Airport, refused to accept arecovery plan drafted by the trustees. Approximately 98% of the 1,269airline employees will be laid off because of the decision. Flightoperations will be suspended step by step. Deputy Transport MinisterMilcho Milanov told protesting employees that the government plans tofound a new airline that would be entirely owned by the state. (NewsBase 31.x.02) CROATIA CROATIA SHOULD BE AMONG COUNTRIES TO JOIN EU BY 2004 ACCORDING TO BANKAUSTRIA At Euromoney's second "Regional Finance and Investment Conference forSouthEast Europe", held in the southern Adriatic town of Cavtat, thechief economist of Bank Austria, Marianne Kager, said that usingbusiness indicators Croatia should be among the countries that joinedthe European Union by 2004. However, for political reasons its entry islikely to be around 2007 with Bulgaria and Romania in a second-stageenlargement, said Kager, who added that Serbia's entry would depend onits relations with Montenegro. Former Yugoslav premier and USbusinessman Milan Panic announced that he would soon invest in theregion, particularly in Croatia. At a press conference, he said that heplanned to establish a regional company with headquarters in Croatia.The initial investment, to be made next year, should amount to between$10 and $25 million, he said. (NewsBase 31.x.02) CZECH REPUBLIC PRIME MINISTER VLADIMIR SPIDLA MET TONY BLAIR IN LONDON ON 29 OCT 02 Prime Minister Vladimir Spidla met British Prime Minister Tony Blair inLondon on Tuesday to discuss EU enlargement, Iraq, the Czech purchase ofSwedish-British Gripen fighters, Czech asylum seekers in Britain andNATO. Commenting on the ongoing discussions over EU support foragriculture, Spidla said that whatever solution was agreed must lead tofair competition between existing member states and the new entrants. "It is of key importance to us that our farmers be included in a fair - Istress the word fair - competition with European farmers," Spidla said.According to the British government spokesman, the Action Plan ofCo-operation in the preparation for the Czech Republic's entry to the EUwas one of the main points of the talks. British aid in the framework ofthe plan is £3 million this year, according to the spokesman. The planallows for the exchange of experience, regular contacts between stateadministration bodies, the organising of seminars and conferences,co-operation in the implementation of the judiciary reform and othersteps. On Iraq, Spidla said that it is necessary to proceed through theUN. A resolution must give inspectors a clear and strong mandate forcontrols anywhere in Iraq. Commenting on the proposal being pushed byBritain and the US at the Security Council for an automatic attack onIraq if it continues to flout UN resolutions, Spidla said that war wastoo serious a matter for "automatic" decisions to be in effect. On thepurchase of Gripen aircraft for the Czech airforce, Spidla said that notmuch time was given to the matter. Spidla told Blair that the governmentwanted to make a decision soon after the NATO summit in Prague.Commenting on NATO, Spidla said that enlargement was not the onlyimportant part of the NATO summit. How NATO reacts to threats is equallyimportant, said Spidla, adding that a level of defence comparable to theeconomic strength of the Alliance must be built up. Spidla said that heand Blair both agreed a compromise between European defence and thetransatlantic alliance must be found. On the subject of Czechs seekingasylum in Britain, Spidla said that Blair values the stance of the CzechRepublic on the question of migration and Spidla, like Interior MinisterStanislav Gross last week, called this problem basically solved.(NewsBase 30.x.02) CZECH'S CONFISCATE SMUGGLED CIGARETTES On 10 October the Czech customs service confiscated 9 million smuggledcigarettes and arrested three smugglers, CTK reported on 15 October. Hadthe shipment gone through, the Czech treasury would have lost 16 millioncrowns ($506,000). The shipment was confiscated from a truck driven by aCzech national who was being accompanied by a Slovak and a Vietnamesecitizen. Customs officials stated that the cigarettes originated inChina and were destined for a Slovak firm. The shipment was labeled"shoes." German police took part in the operation. (RFE/RL 26.x.02) HUNGARY SILENCE ON VIDEOTON IBM OFFER Coordination efforts concerning workers laid off by an IBM plantshutdown are almost ready, said János Papp, an official at theIronworkers' Trade Union Association and chair of the coordinationcommittee. Papp declined to respond to a statement made by Gábor Szeles,CEO of Videoton Holding Rt, that Videoton would create 4,000 jobs if IBMwould let it have its equipment. IBM communication manager BalázsHorváth also declined to respond. (BBJ 31.x.02) KAZAKHSTAN OSCE CHAIRMAN IN OFFICE VISITS KAZAKHSTAN An OSCE delegation headed by Portuguese Foreign Minister Antonio Martinsda Cruz arrived in Astana on 29 October for talks with Kazakhstan'sPresident Nursultan Nazarbaev and Foreign Minister Qasymzhomart Toqaev,according to RFE/RL's Kazakh Service and the 30 October issue of theweekly news bulletin distributed by Kazakhstan's embassy in Washington,D.C. Da Cruz told journalists after his meeting with Nazarbaev thattheir talks focused on economic and security cooperation, including thefight against drug trafficking and international terrorism. Terrorismalso figured during his meeting with Toqaev, as did the death penalty(which Kazakhstan has not yet abolished), human rights issues, theoptimum use of Central Asia's water resources, and the rehabilitation ofsuch ecological disaster areas as the Semipalatinsk nuclear-test siteand the shrinking Aral Sea. Da Cruz declined to comment to journalistson the situation of the embattled Kazakh media. (RFE/RL 31.x.02) POLANDOUTCOME OF EU SUMMITS "NOT SATISFACTORY" HUEBNER TELLS PARLIAMENT European Affairs Minister Danuta Huebner and chief EU negotiator JanTruszczyñski have presented parliamentary deputies the results of an EUsummit in Brussels and a mini-summit for EU candidates in Copenhagen.Additionally, they presented a negotiation strategy for the next sixweeks of the talks. “Many elements of the financial proposals acceptedlast week in Brussels are not satisfactory. The EU side is reluctant totouch on the issue of reducing Poland’s contribution to the EU budget,”admitted Huebner. “This Monday we will lay out our proposal and specifyfurther procedures. After the first exchange of opinions, we expectanother invitation several days later. Then we will learn whatadditional “flexibility” we can count on from the EU,” saidTruszczyñski, adding, “There is no possibility of breaking thenegotiations just because of the EU’s proposed terms for Polishagriculture.” (WBJ 31.x.02) BALCEROWICZ FORECASTS LOW INFLATION FOR 2003 BUT NO ROOM FORINTEREST-RATE CUTS National Bank of Poland (NBP) governor Leszek Balcerowicz said yesterdaythat inflation will probably remain benign next year but warned thatinterest rates do not have much room to fall following a long series ofcuts. Balcerowicz said inflation would probably remain below 3% in 2003,comfortably within the bank’s 2%-4% target range. The zloty firmedslightly against the dollar and euro on the back of Balcerowicz’scomments, which supported the view that Poland’s embryonic economicrecovery may not rekindle inflation. “This was the 13th rate cut (inthis cycle). From 19% we have descended to 7%. It can be assumed thatafter such a huge series of cuts, rates are at an adequate level, orvery near the adequate level, for Poland’s economic reality,” he said.That reality is rapidly improving according to a forecast announced byCentral Statistical Office (GUS) deputy chief Janusz Witkowski, who saidthe economy probably awakened in July-September when GDP was estimatedto have expanded nearly 2% after four straight quarters of growth ofless that one percent. “Experts forecast GDP growth at 1.3%-2.0% in thethird quarter. Partial data available to us suggest that growth will becloser to the top of this range,” Witkowski told reporters in Warsaw.(WBJ 31.x.02) ROMANIA ROMANIAN PRESIDENT ADDRESSES AZERBAIJANI PARLIAMENT, BUSINESS FORUM Ion Iliescu told Azerbaijani parliament deputies on 30 October that hiscountry has taken active measures to promote a solution of the Karabakhconflict, Turan reported. Iliescu spoke highly of the GUUAM alignment,of which Azerbaijan is a member, and said Romania cooperates with allits members. Addressing a business forum in Baku the same day, Iliescuagain stressed Romania's willingness to cooperate in transport projectswithin the framework of the TRACECA (Asia-Caucasus-Europe transportcorridor) and INOGATE (Interstate Oil and Gas Transport to Europe)programs. He suggested Azerbaijan could join the Romanian-Georgianagreement on ferry traffic among the ports of Batumi, Poti, andConstanta. He further noted that Romania has considerable experience inmanufacturing equipment and pipes for the oil-and-gas transportationsector, and could therefore participate in construction of theBaku-Tbilisi-Ceyhan and Baku-Erzerum export pipelines, Interfaxreported. (RFE/RL 31.x.02) VOLKSWAGEN IN TALKS WITH ROMANIAN GOVERNMENT CONCERNING OPENING FACTORY The German Group Volkswagen has voiced an interest in opening a car partand component producing factory in Romania. "We are in talks with theRomanian Government and, as soon as we get some concrete results,Volkswagen will be able to make car parts and components in Romania,"Brent Valmar, the General Manager of Porsche Romania, said. PorscheRomania is the local importer of the Volkswagen brand. Valmar did notelaborate on the projected investments, but said that the developmentstrategy of Volkswagen focuses on Central and Eastern Europe, so theirentering into the domestic market would confirm this strategy.Volkswagen has invested almost Euro 5bn in Central and Eastern Europe sofar, operating in the Czech Republic, Hungary, Poland and Slovakia.Volkswagen employs 37,000 staff in the region and the figure reaches200,000 if considering employers of suppliers. (NewsBase 31.x.02) RUSSIA DOCTORS: IMMEDIATE ACTION COULD HAVE SAVED LIVES More lives might have been saved if rescuers had tried to resuscitatehostages outside the theater rather than pile them into buses andambulances and rush them to the hospital, doctors said. However, therescuers did everything possible given the circumstances, they said."For the Interior Ministry and rescue workers, a quick evacuation wasthe priority," Yury Pavlov, a doctor in the Health Ministry's Center forMedicine in Disaster, said by telephone Thursday. "The most importantthing for doctors was to provide the hostages with first aid. The twothings were very difficult to combine." Doctors were not allowed totreat hostages inside the theater, particularly in the main hall wheremost of them were after the storming by special forces, he said. Outsidethe theater, rescuers, fearing an explosion, scrambled to put hostagesin vehicles and get them away from the site, he said. Also, there wereso many unconscious bodies piling up that there was no time to try toresuscitate one and possibly lose 10 others, he said. (The Moscow Times 01.xi.02) MOSENERGO POSTS LOSS OF $109M Moscow utility Mosenergo posted a net loss of 3.393 billion rubles ($109million) in the first three quarters of 2002 compared with a 1.686billion ruble profit for the same period last year, the company said ina statement Thursday. The accounts were calculated to Russian accountingstandards. Arkady Yevstafyev, Mosenergo general director, said twomonths ago that the company would achieve its forecasted net profit of709 million rubles by the end of the year. Despite the loss, Mosenergo'sshares rose 2.2 percent to $0.0325. The company had revenues of 33.796billion rubles in the first three quarters, a 6 percent increasecompared to the same period last year, when it was under differentmanagement. Analysts said the poor results were expected. Mosenergo isconducting an asset revaluation, which resulted in a correspondingincrease in its depreciation charge, Renaissance Capital said in areport. The company also is carrying out repair and maintenance, and the$14 million initially planned for the program was incurred in Septemberrather than in October. Furthermore, the second and the third quartersare normally the weakest in the power sector, with demand risingsignificantly in the fourth quarter, Renaissance said. "There is nothingsurprising," said Alexander Korchagin, an analyst at Prospect, who addedthat low energy tariffs have also brought down profits. "We have nodoubts that by the end of the year the company will post a profit," hesaid. Renaissance also said Mosenergo would meet its profit target. (The Moscow Times 01.xi.02) RUSSIA ISSUES WARRANT FOR CHECHEN PRESIDENT Deputy Prosecutor-General Sergei Fridinskii said on 31 October that aninternational arrest warrant for Aslan Maskhadov has been issued,Interfax reported. Arrest warrants have also been issued for KazbekMakhashev and Khozh-Akhmet Nukhaev, both of whom are members ofMaskhadov's government. Fridinskii also said that Russia will demand theextradition of former acting Chechen President Zelimkhan Yandarbiev fromQatar. Presidential aide Sergei Yastrzhembskii said on 31 October thatthe Kremlin wants to "wipe out" all members of Maskhadov's leadership,Russian news agencies reported. (RFE/RL 31.x.02) FSB PUBLICIZES DETAILS OF HOSTAGE TAKING Speaking at a news conference in Moscow on 31 October, Federal SecurityService (FSB) Deputy Chairman Vladimir Yeremin said the Chechen fighterswho took over a Moscow theater on 23 October had more than 30 explosivedevices with them that were "of the highest professional construction,"ORT reported. The hostage takers set up two 150 millimeter artilleryshells packed inside containers of ball bearings in the center of thetheater hall. If the terrorists had managed to detonate thoseexplosives, they would have destroyed the entire building and killedeveryone inside as well as a large number of the security troopssurrounding the theater, Yeremin said. At the same news briefing,Interior Ministry Migration Service Director Andrei Chernenko said hisagency has arrested 40 people suspected of providing assistance to thehostage takers. Moscow Oblast Governor Boris Gromov said that, accordingto his information, some of the fighters worked for months at aconstruction site adjacent to the theater and they used the site toaccumulate and store explosives and weapons, polit.ru reported on 29October. (RFE/RL 31.x.02) HEALTH MINISTER DENIES NEGLIGENCE IN TREATING FORMER HOSTAGES Speaking to reporters in Moscow on 30 October, Yurii Shevchenko said thegas used during the 26 October storming of the Moscow theater whereChechen fighters were holding more than 800 hostages was an opiatederivative based on fentanyl, mednovosti.ru and other Russian newsagencies reported. Shevchenko did not provide the precise name of thegas. The minister denied accusations that his ministry was negligent andfailed to coordinate its activities with those of the security forces inorder to provide prompt and effective treatment to the former hostages.He said he had been warned in advance about the impending use of theanesthetic, and the Health Ministry had prepared 1,000 doses ofantidote. Nonetheless, the high number of casualties stemmed from thepoor condition of the oxygen-starved former hostages after more than 50hours of stressful captivity with extremely limited food, water, andmovement. German doctors in Munich alleged after conducting blood testson one former hostage that the gas was halothane, RIA-Novosti reported,citing Munich coroner Professor Ludwig von Meyer. (RFE/RL 31.x.02) RUSSIA-EU SUMMIT RELOCATED TO BRUSSELS The Russia-EU summit previously planned to be held in Copenhagen on 11November has been relocated to Brussels, strana.ru and other Russiannews agencies reported on 31 October, citing presidential aideYastrzhembskii. The relocation came at the request of the Russiangovernment in protest against Denmark's decision to host the 28-29October World Chechen Congress. The key issue to be discussed at thesummit is the status of the Kaliningrad exclave following expected EUexpansion to include Poland and Lithuania. (RFE/RL 31.x.02) COURT AUTHORIZES BEREZOVSKII'S ARREST A Moscow district court on 30 October issued an arrest warrant forself-exiled tycoon Boris Berezovskii and two close business associates,Badri Patarkatsishvili, former deputy chairman of the board of LogoVAZand former LogoVAZ Deputy General Director Yulii Dubov, lenta.rureported. All three men are currently living abroad and are charged with"large-scale fraud and theft" in connection with an allegedly bogusautomobile-sales scheme. According to the indictment, in 1994-5 theaccused bought real estate and shares in ORT, TV-6 and the Ogonekpublishing house on proceeds from the scam. Andrei Borovkov, a lawyerfor the accused, said he will appeal the court's decision. (RFE/RL 31.x.02) BRITISH FIRMS, EXECUTIVES FACE NEW BRIBERY STATUE Britain is making life a little bit harder for its companies -- andexecutives -- operating abroad. In a move to bring its legislation onforeign practices in line with European Union guidelines, London enacteda new bribery and corruption act earlier this year that could haveserious consequences for the thousands of Britons and British firmsdoing business in Russia, a country where greasing palms is consideredan art form. While the new law came into force in February, mostcompanies operating here only found out about it last week, when theBritish Foreign Office sent the head of its economic crime department,Ian Richards, to Moscow to warn members of the British Business Clubthat they need to be more vigilant in their business dealings. "Legally,things will change for U.K. businesses, because now it is considered acrime to indulge in bribery overseas," Richards told The Moscow Times ina recent interview. Richards said there is a wide definition of briberyin the new act that includes, for example, so-called facilitationpayments, which could include payments or gifts to officials.(The Moscow Times 29.x.02) YUKOS ANNOUNCES SECOND-QUARTER PROFIT Second-ranking oil company Yukos's second-quarter results, announced ina 24 October press release, showed an improvement over the first quarterbut a decrease in comparison with last year. The balance sheet, drawn upin accordance with U.S. GAAP (Generally Accepted Accounting Principles)standards, showed revenues of $2.56 billion, a 27.5 percent increaseover first-quarter results. Net profit was $758 million, 64.1 percentmore than in the first quarter but a 14.3 percent decline against 2001second-quarter revenues. Oil production for the period was 16.8 milliontons, an average of 1.349 barrels per day (bpd), and a 17.6 percentincrease over last year's results. The company reduced second-quarterexpenditures to $1.87 per barrel, a 17.6 percent reduction from lastyear's figures. Yukos Chairman Mikhail Khodorkovskii lauded the results,ascribing them in the press release to "the Company's unprecedentedsuccesses in reducing production costs and increasing output.""Vedomosti" commented on 25 October that while the report showeddeclining profits over the past year, Yukos still managed to post thebest results in the industry. Overall, analysts found little cause forsurprise in the figures. "Vedomosti" noted, however, that Yukos'sacquisition of Lithuanian Makeikiu Nafta could have a negative effect onthird-quarter profits. (RFE/RL 29.x.02) BUSY WEEK FOR DERIPASKA AND BASIC ELEMENT Billionaire Oleg Deripaska and his company, Basic Element (BasEl), spentthe week pursuing expansion plans. Deripaska, who made his fortune inthe aluminum business, now seems intent on broadening his empire toinclude the aviation, insurance, and pulp-and-paper industries. Lastweek, Deripaska's BasEl and the Irkutsk Aviation Industrial Association(IAPO) made an offer to acquire bankrupt German-U.S. jet builderFairchild Dornier, AP reported on 22 October. Fairchild Dornier filedfor bankruptcy in April after running up $670 million in debts,"Vedomosti" reported on 23 October. The acquisition would positionDeripaska to take part in a tender to produce a next-generation Russianregional airliner. The state will pay 15 percent of development costs tothe winner of the Rosaviakosmos regional-airliner tender. The moneycould come in handy, as experts estimate that Fairchild Dornier's 728JETproject could require $1 billion in investment to reach markets.Fairchild Dornier's creditors will vote on the offer at a meeting on 5November. On the pulp-and-paper front, Deripaska's BasEl, acting inconjunction with Petersburg banker Vladimir Kogan, continues to makemoves in a complex legal game of cat-and-mouse to gain control ofpulp-and-paper mills in Kotlas and Arkhangelsk. Deripaska and Koganannounced plans in late June to create an $800 million timber-holdingcompany, "Vedomosti" reminded readers on 25 October. On the insurancefront, Deripaska recently announced that he owns a 17.8 percent stake ininsurance company Ingosstrakh, "Vedomosti" reported on 23 October. Openadmissions of ownership, taboo in the secretive world of Yeltsin-eraoligarchs, are the latest fad among Putin-era tycoons. Oil magnate andYukos head Khodorkovskii led the way, owning up to controlling 61percent of the nearly $8 billion oil giant. (RFE/RL 29.x.02) SERBIA SERBIAN GOVERNMENT BECOMES OWNER OF 16 DOMESTIC BANKS The Serbian government became the owner of 16 domestic banks, in a moveto mark the first step in the implementation of a law allowing localbanks owing money to the Paris Club of creditors and the London Club oflenders to swap their debt into state-held equity that will be put upfor sale. According to the Belgrade daily Glas Javnosti, the banks willhave to issue shares by mid-November so as to formalise thedebt-for-equity deal. The government will become a majority shareholderin 11 of the 16 local banks, holding stakes of up to 85%. The state willhave the biggest stake in Kontinental Banka, which is expected to be thefirst local bank to go private. The Serbian Agency for bank liquidationwill be charged with the privatisation of domestic banks. According toYugoslav Central Bank Governor Mladjan Dinkic, potential buyers will beoffered minority stakes in Vojvodjanska Banka and Komercijalna Banka.(NewsBase 31.x.02) UKRAINE NAFTOHAZ UKRAINY IN TALKS WITH GAZPROM NAFTOHAZ UKRAINY is in talks with GAZPROM to revive a network of gaspipelines that allows for gas exports to Europe via the territories ofUkraine and Belarus. The project proposes a viable alternative to theconstruction of a second section of the Yamal - Europe gas pipeline,given that its cost of about $700 million is two times lower than thatof the latter project. The pipeline network that links the Belarussiantown of Ivatsevichi with the Bratstvo trunk gas pipeline in Ukraine wasbuilt in 1974. The network duplicates the gas pipeline on the Kobrin -Lyublin - Velki Kopushany route, which carries GAZPROM gas to WesternEurope via Poland and Slovakia. The Ivatsevichi - Dolina gas pipelinehas a throughput capacity of 29 billion cubic meters of gas and theTorzhok - Dolina pipeline can carry 28b cu m of gas annually. Bothpipelines now stand idle. If completed and restarted, the two pipelineswould make it possible for GAZPROM to boost its gas exports to WesternEurope by 57b cu m a year, thereby fully meeting local demand for itsgas for the next ten years. (NewsBase 30.x.02) INFORMATION PROVIDERS NEWSBASE NewsBase is a leading provider of business and economic news and intelligence from Russia, Central Europe and the FSU. Daily bulletins and industry specific weekly reports backed by an archive containing over 10 million words combine to provide a comprehensive service to a global blue chip client base. Contact: Jon Laurijssen T: +44 (0)131 478 8537 F: +44 (0)131 478 7001 E: [email protected] W: www.newsbase.com, www.newsbaseworldmonitoring.com NEW WORLD PUBLISHING New World Publishing is a primary source of business-related information for Central Europe, through its publications the Prague, Budapest and Warsaw Business Journals. Contact: Mark Child T: +420 2 4608 6524 F: +420 2 4608 6501 E: [email protected] W: www.ceebiz.com, www.pbj.cz, www.wbj.pl, www.bbj.hu THE MOSCOW TIMES The Moscow Times offers readers an independent and precise view of the political, economic and business life of Russia. Contact: Andrew Boag T: +7 095 232 3200 F: +7 095 232 1761 E: [email protected] W: www.themoscowtimes.com RADIO FREE EUROPE / RADIO LIBERTY Radio Free Europe/Radio Liberty is a private, international communications service to Central, Eastern and Southeastern Europe; the Caucasus; and Central and Southwestern Asia funded by the U.S. Congress through the Broadcasting Board of Governors. 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