Russia will return the $60 million clearing debt to FYRMacedonia with the realisation of a gasification project, Vice PM and Minister of Finance Zoran Stavreski said Thursday upon returning from the Russian Federation.

Russia has agreed FYRMacedonia to obtain highest support from Gazprom in the execution of this vital project, stated Stavreski, who together with his Russian counterpart Alexei Kudrin harmonized the text of the document. It needs to be approved by the government and parliament before its planned launching in 2010.

Stavreski informed that the total value of the gasification project was estimated at $200 and 300 million depending on the route.

- Given the fact that $60 million are not sufficient for the project to be completed, Macedonia will co-finance the portion which will be built together with Russia and the portion which will completely financed by Macedonia in a bid the gas line network to be constructed, Stavreski stated.

He stressed that the agreement with Russia to pay the debt was of great significance because it settled a major issue with a realisation of one of Macedonia's capital projects and because the total debt of $60 million would be covered.