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Russia Says Gas Price For China Will Be About $350

Top Russian energy officials have revealed the price China will pay for Russian natural gas as part of a landmark deal signed in Shanghai this week.

Russian Energy Minister Aleksandr Novak and Gazprom export chief Aleksandr Medvedev cited a price of about $350 per 1,000 cubic meters in comments made on May 23.

Novak noted, however, that the price of gas is tied to the price of oil on worldwide markets, so "that is why it can be different at given moment."

Gazprom CEO Aleksei Miller had refused to disclose the price on the day the deal was reached.

Russia and China signed a 30-year contract worth some $400 billion on May 21, which includes a Chinese pledge to prepay some $25 billion.

Based on reporting by ITAR-TASS, Interfax, and Reuters

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