Russian President Vladimir Putin on May 24 continues a series of speeches he is making at an international business forum in St. Petersburg with a talk about Russia’s energy sector.
Putin’s speech at the “Energy Club Summit” of the St. Petersburg International Economic Forum comes on the final day of the three-day event.
It follows a May 21 agreement between Russia and China under which Gazprom is to export $400 billion dollars of natural gas to China over 30 years, beginning in 2018.
After 10 years of negotiations, Gazprom agreed to export gas for $350 per 1,000 cubic meters amid threats from Washington and the European Union of “sectoral sanctions” over Russia’s annexation of Crimea and its role in Ukraine’s crisis.
Dozens of American and European CEOs are boycotting the annual St. Petersburg forum this year over the issue.
Based on reporting by Reuters, AP, AFP, and ITAR-TASS