Russia’s Gazprom to Tie Up 30 Year Gas Deal with China’s CNPC

RT News reported today that, after more than 10 years in the making, a 30 year deal for the delivery of Russian gas to China is set to be signed between Russia’s Gazprom (OTCMKTS:OGZPY) and China’s CNPC. As RT News wrote, Russia’s Deputy Energy Minister Anatoly Yanovsky stated that energy projects are still new to the trade relationship between the two countries, meaning that both countries felt it was important to take time to ensure a measured and balanced approach to the deal.

As quoted in the publication:

Russian President Vladimir Putin is due in the Chinese capital next week where the nations are widely expected to sign the deal. The contract’s been in the making for the last 10 years and in March 2013 resulted in signing of a delivery memorandum between Russia’s Gazprom and China’s CNPC. The terms of the pipeline delivery contract outline Russia’s intention to supply China with 38 billion cubic meters of gas per annum for 30 years, starting in 2018.

Click here to read the full RT News article.