Latest from Beijing: On the sidelines of the 2014 APEC Summit in Beijing, Russian President Vladimir Putin and Chinese Premier Xi Jinping have signed 17 economic cooperation agreements, including the new gas supply framework agreement. In addition, on Monday Putin will meet privately with heads of Indonesia, Malaysia and Japan.
The framework of the new mega-deal being signed between Russia and China seals Russia’s resolute Asia pivot, as I have predicted since the beginning of the Ukraine crisis. In addition to the Eastern Route pipeline running through Vladivostok and servicing Eastern Siberian and the Far East deposits, the new ‘Western Route’ pipeline running through the Altai Mountain range will now send Russian gas to China from Western Siberia as well.
This new deal will allow Russia to sell an additional 30 billion cubic meters (bcm) of gas to China for 30 years. This is the next leg in the multi-prong multi-year strategic partnership…
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