China's big win over 'historic' gas deal with Russia

China's President Xi Jinping and Russian President Vladimir Putin clinch a 30-year US$400 billion gas deal (photo:dpa)
China's President Xi Jinping and Russian President Vladimir Putin clinch a 30-year US$400 billion gas deal (photo:dpa)

China, the world’s top energy user, has walked away with a big win. A historic US$400 billion natural gas deal between China and Russia opens up a new market for Moscow as it courts partners in Asia while those in the West seek to isolate it. But Beijing holds the trump card on price. It will also fall to Russia to pay for infrastructure - all of which raises suspicions over the project’s profitability for Russia and its ailing economy.

<i>China and Russia have concluded a US$400 billion deal for Russia to supply China with 38 billion cubic metres of gas annually over 30 years. Both sides view this as a major foreign policy triumph. But there are reasons to wonder who the real ...

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