GreenFalcon
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I guess they fear an Gas crisis in Europe and were hoping the deal wouldn't go through.
The Great Game Changer: Belt and Road Intiative (BRI; OBOR)
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Arzamas 16
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GreenFalcon
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No wonder why the deal got signed very fastPutin is checking out that pretty little thing on his right
Raphael
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There is only one other thread on this, which was speculative, whereas this is the final confirmation of the deal. Compared to the dozens of threads on something irrelevant like the oil rig.
BoQ77
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No wonder why the deal got signed very fast
If Putin ready to leave without concluding the deal, then Chinese should think again.
If I were him, I thought "you must be mine tonight. I'm single now"
GreenFalcon
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look at the guy behind the woman, He is looking at Putin and thinking to himself "This @ss is mine bitch"
Devil Soul
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Russia's Putin signs 30 year gas deal with China
Russia's President Vladimir Putin has signed 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 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 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.
Analysis: Jamie Robertson, BBC News
The gas deal between Russia and China was signed at 4 am China time, which gives some indication of the level of urgency over these talks. Mr Putin appears to have been determined not to leave with Shanghai without a deal - and he got one.
But the financial details are a "commercial secret", so we don't know how much he had to give away to get it. Certainly China needs the gas to help it cut its coal-fired smog levels, and it wants to diversify supply. It had the luxury of time in which to negotiate, something Mr Putin was short of.
The perceived motive for the deal is that Russia needs a second market for its gas, so it can face up to European sanctions. Given that the "Power of Siberia" pipeline won't start pumping gas into Chinese factories until 2018 at the earliest, its economic effect on the European crisis will be limited.
More important may be the investment that China will make into Russia's power and transport infrastructure. Putin may not have managed to sign the most advantageous of gas deals on Wednesday but the opening of economic doors with China could well be the greater achievement.
Rain Newton-Smith, head of emerging markets at Oxford Economics, said: "The whole tenet of the deal has a symbolic value - it says that the two countries are prepared to work with one another. For instance there were other elements such as Chinese participation in Russian transport infrastructure and power generation.
"It is similar in many ways to China's investments in Africa where they drive a hard bargain over the price of raw materials but then provide infrastructure for the economies they are doing business with."
Siberian power
Another sticking point on the deal has been the construction of pipelines into China.
Currently there is one complete pipeline that runs across Russia's Far East to the Chinese border, called "The Power of Siberia". It was started in 2007, three years after Gazprom and CNPC signed their initial agreement in 2004.
But financing the $22-30bn cost of sending it into China has been central to the latest discussions.
China is Russia's largest single trading partner, with bilateral trade flows of $90bn (£53bn) in 2013.
The two neighbours aim to double the volume to $200bn in 10 years.
BBC News - Russia's Putin signs 30 year gas deal with China
Russia's President Vladimir Putin has signed 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 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 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.
Analysis: Jamie Robertson, BBC News
The gas deal between Russia and China was signed at 4 am China time, which gives some indication of the level of urgency over these talks. Mr Putin appears to have been determined not to leave with Shanghai without a deal - and he got one.
But the financial details are a "commercial secret", so we don't know how much he had to give away to get it. Certainly China needs the gas to help it cut its coal-fired smog levels, and it wants to diversify supply. It had the luxury of time in which to negotiate, something Mr Putin was short of.
The perceived motive for the deal is that Russia needs a second market for its gas, so it can face up to European sanctions. Given that the "Power of Siberia" pipeline won't start pumping gas into Chinese factories until 2018 at the earliest, its economic effect on the European crisis will be limited.
More important may be the investment that China will make into Russia's power and transport infrastructure. Putin may not have managed to sign the most advantageous of gas deals on Wednesday but the opening of economic doors with China could well be the greater achievement.
Rain Newton-Smith, head of emerging markets at Oxford Economics, said: "The whole tenet of the deal has a symbolic value - it says that the two countries are prepared to work with one another. For instance there were other elements such as Chinese participation in Russian transport infrastructure and power generation.
"It is similar in many ways to China's investments in Africa where they drive a hard bargain over the price of raw materials but then provide infrastructure for the economies they are doing business with."
Siberian power
Another sticking point on the deal has been the construction of pipelines into China.
Currently there is one complete pipeline that runs across Russia's Far East to the Chinese border, called "The Power of Siberia". It was started in 2007, three years after Gazprom and CNPC signed their initial agreement in 2004.
But financing the $22-30bn cost of sending it into China has been central to the latest discussions.
China is Russia's largest single trading partner, with bilateral trade flows of $90bn (£53bn) in 2013.
The two neighbours aim to double the volume to $200bn in 10 years.
BBC News - Russia's Putin signs 30 year gas deal with China
Obambam
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The BRICS nations are on the verge of cross national trade in energy and other commodities, including technology, and they're going to do it with a mixed basket of currencies that could decimate the value of the U.S. petrodollar the world is forced to trade in. Good piece of news indeed!
conworldus
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China and Russia ink $400 billion gas deal
China and Russia ink $400 billion gas deal
China and Russia signed off on a huge gas deal worth as much as $400 billion over 30 years. The deal has been in talks for about a decade, but experts see the timing of the final agreement as a move by Russia to avoid sanctions from the West. VPC
Calum MacLeod and Anna Arutunyan , USA TODAY8:23 a.m. EDT May 21, 2014
TWEETLINKEDINCOMMENTEMAILMORE
BEIJING — China and Russia signed off on a huge gas deal worth as much as $400 billion Wednesday that heralds a pivot east for Russian business amid ongoing tensions with the West over Ukraine, though few details of the deal were made public.
The 30-year gas-export contract, seen as a move by Russian President Vladimir Putin to aggressively shift the country's commercial interests east amid mounting sanctions from the United States and Europe, was signed as the Russian leader has enjoyed a warm welcome in China, where the two countries have inked a raft of agreements during his ongoing, two-day visit.
The price China is paying for Russia's gas was not disclosed but the value of the agreement is thought to be somewhere near $400 billion.
The eleventh-hour deal represents "good news for both countries," said Shi Yinhong, an international relations expert at People's University of China, in Beijing. "The political requirements on both sides are so powerful they can overcome the concerns on price," he said. "This is a political action by both sides."
Talks for the deal had been going on for more than a decade and will see Russia export up to 38 billion cubic meters of gas per year, for 30 years, starting in 2018. The export agreement is significant because it will permit Russia to diversify the market for its gas away from Europe, which has threatened sanctions over Russia's incursion into Ukraine.
China's neutrality over Ukraine has begun "tilting" toward Russia, said Shi, but this deal will not fundamentally change a relationship he called "a convenient coalition, not an alliance." The agreement is an example of "selective cooperation, due to the situation in Eastern Europe, the Western Pacific and East Asia at this period," but on some issues their concerns remain incompatible, he said.
"It's a demonstration of the fact that Russia always has and always will have other options to develop relations elsewhere. The threat of isolation coming from the West will not be complete," said Sergei Utkin, political expert at the Russian Academy of Sciences.
Plans already announced by the two nations include building the first railway bridge over their long border, and manufacturing Chinese cars in Russia.
The neighbors, whose relationship has long been strained by distrust, promised Tuesday to increase bilateral trade to $200 billion by 2020, up from $90 billion last year.
Ahead of his visit to Asia's largest economy, Putin told Chinese media that China is a "reliable friend." The Russian leader, now spurned in the West for his annexation of Crimea in eastern Ukraine, received reliably positive media coverage Wednesday in China, where he enjoys personal popularity as a strong leader with a macho charisma unfamiliar in China's straitlaced political system.
Photos and comments highlighting Putin's masculine charm dominated social media sites, although some Internet users expressed pride that the portly Xi Jinping, China's leader, is at least taller than Putin.
Both countries consider the other a useful counterpoint to difficult relations with the United States.
While in China, Putin traveled to Shanghai to attend a two-day session of the Conference on Interaction and Confidence Building Measures in Asia, a little-known Asian security group that includes Iran and several Central Asian states but not the U.S. or Japan, China's longtime rival in East Asia, and one of several maritime neighbors currently embroiled in disputes over territory with China.
On Wednesday, Xi told the summit that China is committed to peacefully resolving territorial disputes.
MacLeod reported from Beijing, Arutunyan from Moscow.
flag: Russia
China and Russia ink $400 billion gas deal
China and Russia signed off on a huge gas deal worth as much as $400 billion over 30 years. The deal has been in talks for about a decade, but experts see the timing of the final agreement as a move by Russia to avoid sanctions from the West. VPC
Calum MacLeod and Anna Arutunyan , USA TODAY8:23 a.m. EDT May 21, 2014
TWEETLINKEDINCOMMENTEMAILMORE
BEIJING — China and Russia signed off on a huge gas deal worth as much as $400 billion Wednesday that heralds a pivot east for Russian business amid ongoing tensions with the West over Ukraine, though few details of the deal were made public.
The 30-year gas-export contract, seen as a move by Russian President Vladimir Putin to aggressively shift the country's commercial interests east amid mounting sanctions from the United States and Europe, was signed as the Russian leader has enjoyed a warm welcome in China, where the two countries have inked a raft of agreements during his ongoing, two-day visit.
The price China is paying for Russia's gas was not disclosed but the value of the agreement is thought to be somewhere near $400 billion.
The eleventh-hour deal represents "good news for both countries," said Shi Yinhong, an international relations expert at People's University of China, in Beijing. "The political requirements on both sides are so powerful they can overcome the concerns on price," he said. "This is a political action by both sides."
Talks for the deal had been going on for more than a decade and will see Russia export up to 38 billion cubic meters of gas per year, for 30 years, starting in 2018. The export agreement is significant because it will permit Russia to diversify the market for its gas away from Europe, which has threatened sanctions over Russia's incursion into Ukraine.
China's neutrality over Ukraine has begun "tilting" toward Russia, said Shi, but this deal will not fundamentally change a relationship he called "a convenient coalition, not an alliance." The agreement is an example of "selective cooperation, due to the situation in Eastern Europe, the Western Pacific and East Asia at this period," but on some issues their concerns remain incompatible, he said.
"It's a demonstration of the fact that Russia always has and always will have other options to develop relations elsewhere. The threat of isolation coming from the West will not be complete," said Sergei Utkin, political expert at the Russian Academy of Sciences.
Plans already announced by the two nations include building the first railway bridge over their long border, and manufacturing Chinese cars in Russia.
The neighbors, whose relationship has long been strained by distrust, promised Tuesday to increase bilateral trade to $200 billion by 2020, up from $90 billion last year.
Ahead of his visit to Asia's largest economy, Putin told Chinese media that China is a "reliable friend." The Russian leader, now spurned in the West for his annexation of Crimea in eastern Ukraine, received reliably positive media coverage Wednesday in China, where he enjoys personal popularity as a strong leader with a macho charisma unfamiliar in China's straitlaced political system.
Photos and comments highlighting Putin's masculine charm dominated social media sites, although some Internet users expressed pride that the portly Xi Jinping, China's leader, is at least taller than Putin.
Both countries consider the other a useful counterpoint to difficult relations with the United States.
While in China, Putin traveled to Shanghai to attend a two-day session of the Conference on Interaction and Confidence Building Measures in Asia, a little-known Asian security group that includes Iran and several Central Asian states but not the U.S. or Japan, China's longtime rival in East Asia, and one of several maritime neighbors currently embroiled in disputes over territory with China.
On Wednesday, Xi told the summit that China is committed to peacefully resolving territorial disputes.
MacLeod reported from Beijing, Arutunyan from Moscow.
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