Bloomberg reported that OAO Gazprom (MCX:GAZP) will acquire control of Belarus’s pipelines in exchange for lower gas prices to the country.

As quoted in the market news:

Belarus will pay $165.60 per 1,000 cubic meters for gas in 2012, according to deals signed today outside Moscow as Presidents Dmitry Medvedev and Aleksandr Lukashenko met, Gazprom said by e-mail. That compares with an average $279 per 1,000 cubic meters the country paid in the third quarter.

Click here to read the full Bloomberg report.