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$400 Billion Gas Deal Great For China, But Diplomatic Victory For Russia

Although exact details are unclear, Russian and Chinese media outlets are reporting that ten years of negotiations surrounding the sale of natural gas from Siberia to China have finally concluded at the tail end of a state visit by President Vladimir Putin. The long-delayed agreement will ensure the delivery of 38 billion cubic meters of natural gas per year to the state-owned China National Petroleum Corporation by Russia’s Gazprom, earning an estimated $400 billion over the next 30 years.

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