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China: Putin, Xi Jinping sign massive gas deal in Beijing01:35

China: Putin, Xi Jinping sign massive gas deal in Beijing

China, Beijing
November 9, 2014 at 20:34 GMT +00:00 · Published

Russian President Vladimir Putin and his Chinese counterpart Xi Jinping oversaw the signing of a memorandum of understanding on the Altai ("western route") gas pipeline, Sunday ahead of the Asia-Pacific Economic Cooperation (APEC) summit in Beijing.

The agreement paves the way for a contract that would make China the biggest consumer of Russian gas, with the Altai route due to supply 30 billion cubic metres of gas per year.

The new supply line is an addition to the Power of Siberia route, under construction since a $400 billion (€321 billion) deal was clinched in May. The pipeline is due to deliver 38 billion cubic metres of gas to China annually.

China: Putin, Xi Jinping sign massive gas deal in Beijing01:35
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Russian President Vladimir Putin and his Chinese counterpart Xi Jinping oversaw the signing of a memorandum of understanding on the Altai ("western route") gas pipeline, Sunday ahead of the Asia-Pacific Economic Cooperation (APEC) summit in Beijing.

The agreement paves the way for a contract that would make China the biggest consumer of Russian gas, with the Altai route due to supply 30 billion cubic metres of gas per year.

The new supply line is an addition to the Power of Siberia route, under construction since a $400 billion (€321 billion) deal was clinched in May. The pipeline is due to deliver 38 billion cubic metres of gas to China annually.

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