Russia and China sign major gas pipeline deal for 30 years
Saturday, February 5, 2022
On Friday, Russia signed a 30-year deal to supply gas to China, strengthening the energy alliance between the two countries. met with his counterpart Xi Jinping, promising to increase trade exports from the region to China. The meeting took place while the Russian president was on a visit to China for the .
With this new deal, Russia aims to increase its gas supply to China by 10 billion cubic metres per year, of a total supply of 48 billion cubic metres per year. The new project is estimated to be worth USD117.5 billion. Russian energy giant has agreed to take part in the deal by supplying the gas to . A statement released by Gazprom indicates the project is due to start in two to three years.
The Russian president expressed appreciation for the deal by saying that, "a step forward was made in the gas industry". Russia already suppliesto China via the pipeline. The deal will be denominated in due to efforts by both countries to divert their foreign trade away from US dollars.
- "China and Russia sign trade deals worth US$3.5 billion" — Wikinews, October 13, 2009
- Chen Aizhu. "Russia, China agree 30-year gas deal via new pipeline, to settle in euros" — , February 4, 2022
- Press Release: "Gazprom and CNPC sign agreement to supply Russian pipeline gas to China via Far Eastern route" — , February 4, 2022
- "Putin hails China oil and gas deals amid tensions with Europe" — , February 4, 2022