Economy

xchrom

(108,903 posts)

10. Russia And China Sign Gas Pipeline Megadeal

Wed May 21, 2014, 06:05 AM

May 2014

http://www.businessinsider.com/russia-and-china-sign-billion-gas-pipeline-mega-deal-2014-5

Russia's Gazprom and China's China National Petroleum Corporation (CNPC) have signed a historic gas contract, according to Russia Today and confirmed by Bloomberg.
The price is not yet known but is estimated to be around $400 billion. Negotiations have been ongoing for eight to ten years.

The deal will send 38 billion cubic meters of natural gas to China each year for the 30 years, starting in 2018, with the potential to expand the annual capacity to 61 billion cubic meters.

China consumed about 170 billion cubic meters of natural gas in 2013 and set a target of up to 420 billion cubic meters a year by 2020.

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