China and Russia eventually signed a 30-year gas deal in the midst of intensified crisis in Ukraine and the threat of the West to heightened sanctions against Russia. While many believed that US$ 400B deal should be a win-win for China and Russia, the benefits both would get are more symbolic than pragmatic. Russia’s Gazprom will begin supplying China’s CNPC with up to an annual amount of 38B cubic metres from 2018.
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Weekly Fundamentals – China-Russia Gas Deal More Symbolic than Pragmatic
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