Russia signs 30-year gas deal with China

admin

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. No official price has been given but it is estimated to be worth over $400bn. 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. Gazprom shares rose 2% on the news. How significant is the deal? The agreement, signed at a summit in Shanghai, is expected to deliver some 38 billion cubic meters of…

Next Post

FIT Act presents huge opportunity for Virgin Islands - Fierce Energy

FIT Act presents huge opportunity for Virgin IslandsFierce EnergyU.S. Virgin Islands (USVI) Governor John deJongh has signed the Feed-In-Tariff (FIT) Act into law, allowing residents to build renewable energy projects and sell all of the electricity to...