During his meeting with Chinese President Xi Jinping, Russian President Vladimir Putin on Friday announced that his country has signed a new contract with China to deliver an additional 10 billion cubic meters (bcm) of gas.
In addition, Putin said, the Russian oil producers prepared “good proposals” for China, which were fixed in an additional protocol to existing agreements.
“Our oilmen have prepared good new solutions for the supply of hydrocarbons to the People’s Republic of China. And the gas industry has also taken another step forward – I mean a new contract for the supply of gas to China from the Russian Far East at 10 billion cubic meters per year,” he said.
The signing of the agreement happens at the time of energy crisis in Europe where gas prices have skyrocketed in recent months.
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