China, Russia agree to landmark natural gas deal

Russia has agreed to sell China natural gas after years of failed discussions over pricing, The Wall Street Journal reported. New Chinese President Xi Jinping visited Russian President Vladimir Putin during the weekend in Moscow, where he signed off on several energy contracts with the the world’s biggest exporter of natural gas. The deals signed on Friday could make China the No. 1 importer of Russian gas importer, with 38 billion cubic meters of gas to be delivered annually starting in 2018. That figure could eventually climb to 60 billion cubic meters annually. China also signed a major oil deal with Russia’s Rosneft (ROSN.LON, ROSN.MCX), as expected.