Russia has agreed a 30-year contract to supply gas to China via a new pipeline and will settle the new gas sales in euros, bolstering an energy alliance with Beijing amid Moscow's strained ties with the West over Ukraine and other issues.
Gazprom , which has a monopoly on Russian gas exports by pipeline, agreed to supply Chinese state energy major CNPC with 10 billion cubic metres of gas a year, the Russian firm and a Beijing-based industry official said.
Under plans previously drawn up, Russia aimed to supply China with 38 bcm of gas by pipeline by 2025. The deal would be settled in euros, the source added, in line with efforts by the two states to diversify away from U.S. dollars.
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