China and Russia agree huge gas supply contract in Shanghai

World|business|May 21, 2014 / 04:26 PM

AKIPRESS.COM - 41d4deb651fa08affbbc China and Russia have agreed a huge gas supply contract in Shanghai on Wednesday, after a decade of talks.

The deal between Russia's Gazprom and China National Petroleum Corp (CNPC) has been years in the making. No official price has been given but it estimated to be worth over $400bn.

China is Russia's largest single trading partner, with bilateral trade flows of $90bn (£53bn) in 2013.

The two neighbours aim to double the volume to $200bn in ten years, says BBC.

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