Gas Deal: China to Invest $22Bln, Russia to Invest $55Bln

Politics ♦ Published: May 21, 2014; 20:14 ♦ (Vindobona)

Russia’s overall investment on delivering gas to China is $55 billion and China’s investment is estimated at around $22 billion according to a contract signed by the two countries in Shanghai, Russian President Vladimir Putin said Wednesday.

Gas Deal: China to Invest $22Bln, Russia to Invest $55Bln / Picture: © Gazprom

Gazprom and CNPC earlier in the day signed a 30-year contract on the sale of Russian gas to China at a volume of 38 billion cubic meters per year with delivery along the eastern route.

The document was under discussion for several years with the main stumbling block being the gas price that the parties finally agreed on at the last minute.

Gazprom CEO Alexei Miller…