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Gazprom Shares Jump as China, Russia Sign Historic $400Bln Gas Deal

© Sputnik / Mikhail Fomichev / Go to the photo bankGazprom Shares Jump as China, Russia Sign Historic $400Bln Gas Deal
Gazprom Shares Jump as China, Russia Sign Historic $400Bln Gas Deal - Sputnik International
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Shares of Russia's largest gas exporter Gazprom rose 0.9 percent on the news about the signing of the delivery contract to China on Wednesday.

MOSCOW, May 21 (RIA Novosti) — Shares of Russia's largest gas exporter Gazprom rose 0.9 percent on the news about the signing of the delivery contract to China on Wednesday.

The company's shares traded at 148 rubles per share after the news at 13:36 Moscow time (09:36 GMT), up from 144.5 rubles per share at the trade opening.

Russian Micex index added 0.1 percent.

Russia and China agreed on a long-term gas supply contract in Shanghai on Wednesday, after years of talks on the deal, worth billions of dollars.

The 30-year agreement between Russia's Gazprom and China National Petroleum Corporation (CNPC) ensures annual delivery of 38 billion cubic meters of Russian gas to its eastern neighbor. It was signed on the second day of Russian President Vladimir Putin's official visit to Shanghai.

Gazprom CEO Alexei Miller has refused to name the gas price for China, citing a "corporate secret." The price could be estimated at around $350 per 1,000 cubic meters.

Miller said the overall cost of the 30-year contract for Russian gas deliveries to China is $400 billion.

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