Russia’s Putin signs 30 year gas deal with China

St. Basils Cathedral- Moscow, Russia

St. Basils Cathedral- Moscow, Russia

Source: BBC

Russia’s President Vladimir Putin has signed multi-billion dollar, 30-year gas deal with China.

The deal between Russia’s Gazprom and China National Petroleum Corp (CNPC) has been 10 years in the making. No official price has been given but it estimated to be worth over $400bn.

Russia has been keen to find an alternative energy market for its gas as it faces the possibility of European sanctions over the crisis in Ukraine.

Gazprom shares rose 2% on the news.

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Categories: Asia, China, Russia

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