China and Russia sign huge gas deal

China and Russia agreed a huge gas supply contract in Shanghai on Wednesday, after a decade of talks on the multi-billion-dollar deal, Chinese state energy giant CNPC said.
The contract signatures were witnessed by Chinese President Xi Jinping and visiting Russian leader Vladimir Putin, CNPC said in a statement.
"This is another major milestone achievement in China-Russia energy strategic cooperation," it said.
Russia has vast energy reserves and China is constantly seeking resources to power the growth of its economy, but the neighbours had been unable to agree a price for years.
No information was immediately available on the terms.
Under the 30-year deal between CNPC and Russia's Gazprom 38 billion cubic metres could eventually be sent annually from Russia to China, the statement said, according to AFP.