Update | Russia says gas deal to be signed in 'a few hours' as Xi, Putin attend security summit
US$400 billion contract would see Russia supplying China with 38 billion cubic metres of gas over the next 30 years
Russian Deputy Prime Minister Arkady Dvorkovich said today he hoped a long-awaited gas supply deal with China would be prepared in the "next few hours", ready for signing.
Dvorkovich told an international gas congress in Turkmenistan that he hoped President Vladimir Putin’s trip to Shanghai would end with the signing of the US$400 billion gas contract, which would see Russia supplying China with 38 billion cubic metres of gas over the next 30 years.
"When I left Shanghai yesterday, practically everything was agreed. I hope that my colleagues will complete the work in next few hours and the contract will be ready for signing," he said.
Dvorkovich was speaking as President Xi Jinping was set to present his vision of foreign policy while hosting a regional forum on security, which Putin was attending.
The Conference on Interaction and Confidence Building Measures in Asia (CICA) is a relatively obscure forum that exists alongside other stronger regional groupings. This comes a year into his term, which has seen Beijing look to assert its interests in continental Asia and the Pacific Ocean.
Through the forum, Beijing is keen to raise the event’s profile and show willingness to work with neighbours, despite recent disputes over maritime territory.