Agreement reached between Russia and China on the supply of gas with a mega contract worth about 450 billion dollars for a period of thirty years. Until yesterday it seemed that the agreement was destined to fail, due to disagreement on the price of gas according to rumors, while this morning in Shanghai it was finally signed by both public energy companies, the giant Gazprom and China National Petroleum Corp (CNPC) , Russian President Vladimir Putin and Chinese President Xi Jinping.
According to the terms of the contract, Russia will supply gas to the world's second largest economy starting from 2018, with volumes that will progressively increase "to reach the ceiling of 38 billion cubic meters per year". No details have been provided by the interested parties regarding the agreed gas price. The acceleration of the accelerator at the closing of the agreement is largely due to the crisis with Ukraine which threatens relations with the countries of the European Union which are major consumers of Russian gas.
