Russia signs 30-year gas deal with China

[ScienceRocks]

Russia signs 30-year gas deal with China
BBC News - Russia signs 30-year gas deal with China

Russia's President Vladimir Putin has signed a multi-billion dollar, 30-year gas deal with China.

The deal between Russia's Gazprom and China National Petroleum Corp (CNPC) has been 10 years in the making.

Russia has been keen to find an alternative energy market for its gas as it faces the possibility of European sanctions over the crisis in Ukraine.

No official price has been given but it is estimated to be worth over $400bn.

President Putin said in a statement to the Russian news channel Rossiya: "The price is satisfactory for both sides.

"It is tied, like it is envisaged in all our international contracts with Western partners, specifically our partners in Western Europe, to the market price on oil and oil products. It is an absolutely calibrated, general formula for pricing."

The agreement, signed at a summit in Shanghai, is expected to deliver some 38 billion cubic metres of natural gas a year eastward to China's burgeoning economy, starting around 2018.

The main argument has been over price and China is thought to have been driving a hard bargain.

Over the last 10 years it has found other gas suppliers. Turkmenistan is now China's largest foreign gas supplier, and last year it started importing piped natural gas from Myanmar.

Alexei Miller, Chief Executive of Gazprom said the new deal was "the biggest contract in the entire history of the USSR and Gazprom - over 1 trillion cubic metres of gas will be supplied during a whole contractual period."

 

[LiberalMedia]

This is wonderful. The glorious People's Republic is finally reining in those despotic goons in Moscow by siphoning away their most precious resource. And you conservatards say that Communism doesn't work--clearly it does.

Alexei Miller, Chief Executive of Gazprom

Miller, what a lovely Russian name.

 

[shart_attack]

This is wonderful. The glorious People's Republic is finally reining in those despotic goons in Moscow by siphoning away their most precious resource. And you conservatards say that Communism doesn't work — clearly it does.

Got a Benjamin says you won't be saying that if China and Russia team up to go Red Dawn on the USA.

I'm pretty sure the thing in your avatar won't last a day in Putin's USA.

 

[TrainTime]

Putin got shanked in that deal....the slants got his gas for HALF the original price thanks to the Ukes showing him he'll have to use massive force to TAKE their country and he can't risk that. So with the prospect of the Ukes drilling their own NG and getting help from Poland, he had to take the best price he could get. And guess what? He still has to build the pipelines to make a dime.....LOL!

 

[whitehall]

You might as well call it a military treaty. When is the radical environmentalist left going to recognize the fact that fossil based energy sources are and always have been the source of political and monetary power in the whole freaking world?

 

[CrusaderFrank]

This is wonderful. The glorious People's Republic is finally reining in those despotic goons in Moscow by siphoning away their most precious resource. And you conservatards say that Communism doesn't work--clearly it does.

Alexei Miller, Chief Executive of Gazprom

Miller, what a lovely Russian name.

You may be the dumbest Liberal on USMB and that's saying something. Moscow also signed a deal to exploit the Leviathan field in the Mediterranean. While Obama is trying socialism the Chinese and Russians are going for free enterprise and capitalism; one side is winning, the other is chooming

Sent from smartphone using my wits and Taptalk

 

[CrusaderFrank]

Oh and how's that Peak Oil theory working for you

Sent from smartphone using my wits and Taptalk