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5 things about China-Russia gas deal

Published on May 22, 2014 1:31 PM
Russian President Vladimir Putin (L) and Chinese President Xi Jinping (R) attend a ceremony of the signing of a China-Russia gas deal in Shanghai, China, on 21 May 2014. -- PHOTO: EPA

China and Russia signed a multi-billion dollar gas deal on Wednesday. Here are five things about the deal.

A long-awaited deal

The deal between Russia's Gazprom and China National Petroleum Corp (CNPC), signed at a summit in Shanghai, has been 10 years in the making.

Under the agreement, Gazprom will supply 38 billion cubic meters of natural gas to China each year, for 30 years, with the possibility of increasing shipments to 60 billion cubic metres per year, starting from 2018.

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