Russia and China fail to sign $400bn gas deal

China and Russia failed to sign a giant gas supply deal at a meeting in Shanghai on Tuesday, Bloomberg reported, citing a statement after the meeting by Alexey Miller, CEO of Russian gas exporter Gazprom (GAZP.MCX). Talks are continuing on the US$400 billion deal after Russia’s President Vladimir Putin and his Chinese counterpart Xi Jinping signed bilateral agreements that didn’t include the gas deal. Russian officials had said before the meeting they were close to a deal on gas price, opening the way to building a pipeline linking the world’s largest energy producer with the biggest consumer.