China and Russia signed a gas supply agreement of about $400 billion on Wednesday, securing the world's top energy consumer an important source of cleaner fuel and impelling a new market for Moscow since it risks losing European clients over the Ukraine crisis.
The deal is a political accomplishment for Russian President Vladimir Putin, who is trying to attract Asian partners since those in Europe and the United States aim to separate him over Moscow's seizure of Ukraine's Crimea peninsula. Both sides could take advantage from an accord that will directly connect Russia's massive gas fields to Asia's flourishing market for the first time. Gazprom CEO Alexei Miller refused to make known at what price the accord was arranged. [emp]