Russian President Putin meets Chinese President Xi in Beijing
Reuters: Russia, China agree 30-year gas deal via new pipeline, to settle in euros
Russia has agreed a 30-year contract to supply gas to China via a new pipeline and will settle the new gas sales in euros, bolstering an energy alliance with Beijing amid Moscow's strained ties with the West over Ukraine and other issues.
Gazprom, which has a monopoly on Russian gas exports by pipeline, agreed to supply Chinese state energy major CNPC with 10 billion cubic metres of gas a year, the Russian firm and a Beijing-based industry official said.
First flows through the pipeline, which will connect Russia's Far East region with northeast China, were due to start in two to three years, the source said in comments that were later followed by an announcement of the deal by Gazprom.
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Update #1: Russia and China sign major energy deal (RT)
Update #2: Putin hails $117.5 billion of China deals as Russia squares off with West (Reuters)
WNU Editor: Will the Euro replace the U.S. dollar as the world's reserve currency? This Russia - China gas deal signals that the answer may be yes.
1 comment:
Surprisingly long overdue. All the failed attempts at halting QE leading up to the pandemic should've shown everyone that there's no stopping this runaway train. The rate of money printing post-pandemic however is too much for even the coolest heads to continue to tolerate for much longer.
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