Thursday, May 22, 2014

Russia & China Strike Gas Deal

China and Russia have signed a $400 billion natural gas deal which will span 30 years. This is significant because it demonstrates the relationship that has been warming between Russia's Vladmir Putin and China's Xi Jinping. This deal has been discussed by these two countries for over ten years, and it was prompted largely in part by the invasion of Ukraine and annexation of Crimea. Europe has typically been Moscow's main energy market, but due to the Ukraine situation Europe has placed sanctions against Russia, forcing Russia to find a new energy market. This new market is China. This deal between gas companies Gazprom and China National Petroleum Corporation is the biggest deal Russia has sealed since the fall of the Soviet Union.

Alexandria Corriveau
PSC102

http://search.proquest.com/nationalnewsexpanded/docview/1526714609/2E22CE0E6FCE4FBDPQ/6?accountid=44854

No comments: