Russia's state-controlled energy giant Gazprom has signed a long-awaited memorandum of understanding on a huge natural-gas deal with China.
The accord, announced on May 21, came on the sidelines of a visit to Shanghai by Russian President Vladimir Putin.
Gazprom chief Aleksei Miller is quoted as saying the gas supply contract with China is worth $400 billion over 30 years.
"This is Gazprom's biggest contract," Miller said. "Not one company has ever signed a contract like this."
But Miller refused to disclose the exact price for the gas, calling it a commercial secret.
The deal entails Russia supplying 38 billion cubic meters of gas per year to China via a new eastern pipeline linking the countries.
Russia and China have been working more than a decade on the deal, but a final agreement had been delayed due to price disagreements.
The accord, announced on May 21, came on the sidelines of a visit to Shanghai by Russian President Vladimir Putin.
Gazprom chief Aleksei Miller is quoted as saying the gas supply contract with China is worth $400 billion over 30 years.
"This is Gazprom's biggest contract," Miller said. "Not one company has ever signed a contract like this."
But Miller refused to disclose the exact price for the gas, calling it a commercial secret.
The deal entails Russia supplying 38 billion cubic meters of gas per year to China via a new eastern pipeline linking the countries.
Russia and China have been working more than a decade on the deal, but a final agreement had been delayed due to price disagreements.
