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You're reading: Gazprom hopes to clinch deal with China this year (updated)
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Last week, Chinese and Russian leaders failed to reach a price agreement for the long-awaited deal, which would guarantee annual supplies of 68 billion cubic meters of gas to China for 30 years, starting from 2015.

Moscow wanted to link the price to oil prices the way it does in Europe, but China considers any European-level price too high.

Gazprom expects prices for its supplies to Europe to reach $500 per 1,000 cubic meters by the year’s end, twice as much as China reportedly was ready to pay. At Gazprom’s price, the deal will have cost China more than $1 trillion by 2045.

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