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China-Russia relations; re-titled thread
Topic Started: May 19 2014, 06:32 AM (346 Views)
MSantor
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PDFF Mod Group
Putin trying to secure more buyers for Russian gas:

Interaksyon

Quote:
 
Putin heads to China as Ukraine sinks ties with West

By: Anna Smolchenko, Agence France-Presse
May 18, 2014 11:14 AM

MOSCOW - Russian President Vladimir Putin heads to China on Tuesday to shore up eastern ties as relations with the West plunge to new lows over the Ukraine crisis.

During a two-day visit to Shanghai, Putin and Chinese host Xi Jinping will seek to clinch a raft of agreements including a landmark gas deal crucial for Moscow as Europe seeks to cut reliance on Russian oil and gas.

The two leaders will also take part in a regional security forum and oversee the start of joint naval exercises off Shanghai in the East China Sea.

Moscow's relations with the United States and European Union have dived to a post-Cold War low in recent months over Russia's seizure of Crimea and Western accusations the Kremlin is fomenting unrest in the east of Ukraine.

The West has slapped sanctions on some of Putin's closest allies and threatened broader punitive measures if Moscow disrupts presidential polls in Ukraine on May 25.

(...EDITED)

"If you think you can do a thing or think you can't do a thing, you're right." - Henry Ford

"Courage is going from failure to failure without losing enthusiasm."
- Winston Churchill


"If everyone is thinking alike, someone isn't thinking"- Gen. George S. Patton
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MSantor
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Ha! No gas deal for Vladimir. :banana:

Quote:
 
Russia Fails to Sign China Gas Deal at Shanghai Meeting

quote:
The presidents of China and Russia failed to sign a $400 billion gas supply deal at a meeting yesterday in Shanghai, prolonging negotiations that started more than 10 years ago.

Talks are continuing as the two countries seek a compromise, Alexey Miller, chief executive officer of Russian gas-exporter OAO Gazprom (OGZD), said in a statement after Vladimir Putin and his Chinese counterpart Xi Jinping signed bilateral agreements that didn’t include the gas deal.

Russian officials said before the meeting that the two sides were very 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. That has been the stumbling block throughout the past decade, though with Putin facing sanctions from the U.S. and Europe after he annexed Crimea, an agreement had been seen as more likely than at previous summits.

“It shows that Russia is not willing to cut a low-price deal just to make a political point with the west,” said Chris Weafer, founder at Macro Advisory in Moscow. “The danger is if a deal is not concluded this year China may switch its efforts to secure pipeline gas elsewhere.”

(...EDITED)


Bloomberg


Edited by MSantor, May 21 2014, 10:36 AM.
"If you think you can do a thing or think you can't do a thing, you're right." - Henry Ford

"Courage is going from failure to failure without losing enthusiasm."
- Winston Churchill


"If everyone is thinking alike, someone isn't thinking"- Gen. George S. Patton
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Hong Nam
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Bought by China

MSantor
May 21 2014, 10:35 AM
Ha! No gas deal for Vladimir. :banana:

Did China Just Checkmate Russia in Ukraine?
The Fiscal Times
By David Francis
11 hours ago



Russia's long-term plan to keep its economy growing was to turn away from a stagnant energy market in Europe and grow ties with China, a country that will soon have the largest economy in the world. The cornerstone of this plan was an energy deal that would allow Gazprom, Russia's state-owned energy giant, to pump billions of cubic tons of natural gas to China.

The deal was supposed to be signed today. Reuters reports that the deal has fallen apart.

With the crisis in Ukraine continuing, China pushed the price of the gas lower and lower. Energy experts expected Russia to accept the lower prices in order to diversify exports.

But this news puts Russia's Asia strategy in serious doubt. The Russia-China strategic partnership had been in the works since Russian President Boris Yeltsin and Chinese President Jiang Zemin announced it in 1996.

It also has serious implications for the Ukraine crisis. One of the reasons Russia sought the partnership with China was to wean itself off of European energy money. If it diversified exports, the relationship with Europe became less important and Europe would lose leverage over Moscow. This could free Russia up to act across Eastern Europe as it has in Ukraine.


The Fiscal Times / Yahoo





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MSantor
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Seems both of us spoke too soon, since the Financial Times is now reporting that a natural gas deal was just signed between China and Russia.


Quote:
 
China and Russia sign gas deal

Agreement seen as test of closer Sino-Russian ties


(full article at link above)


"If you think you can do a thing or think you can't do a thing, you're right." - Henry Ford

"Courage is going from failure to failure without losing enthusiasm."
- Winston Churchill


"If everyone is thinking alike, someone isn't thinking"- Gen. George S. Patton
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Hong Nam
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Bought by China

MSantor
May 21 2014, 09:06 PM
Seems both of us spoke too soon
:lollol: We should have waited a bit longer.

China and Russia's Gazprom sign key gas agreement
Katy Barnato
2 Hours Ago


Russia's state-controlled Gazprom signed a long-awaited megadeal to supply gas to China on Wednesday, which could ease the impact of Western sanctions on the country.

The deal would see Gazprom—the world's largest extractor of natural gas—supply 38 billion cubic meters of gas to China annually for 30 years, according to Reuters, under a contract valued in excess of $400 billion.


CNBC

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MSantor
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Another major update that came out of this visit:

Al Jazeera

Quote:
 
RUSSIA, CHINA SIGN DEAL TO BYPASS U.S. DOLLAR

In a symbolic blow to U.S. global financial hegemony, Russia and China took a small step toward undercutting the domination of the U.S. dollar as the international reserve currency on Tuesday when Russia’s second biggest financial institution, VTB, signed a deal with the Bank of China to bypass the dollar and pay each other in domestic currencies.

The so-called Agreement on Cooperation — signed in the presence of Chinese President Xi Jinping and Russian President Vladimir Putin, who is on a visit to Shanghai — was followed by the long-awaited announcement on Wednesday of a massive natural gas deal 10 years in the making.

“Our countries have done a huge job to reach a new historic landmark,” Putin said on Tuesday, making note of the $100 billion in annual trade that has been achieved between the two countries.

(...EDITED)

"If you think you can do a thing or think you can't do a thing, you're right." - Henry Ford

"Courage is going from failure to failure without losing enthusiasm."
- Winston Churchill


"If everyone is thinking alike, someone isn't thinking"- Gen. George S. Patton
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MSantor
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IIRC, experts have said that while the EU may tolerate Russia shutting off the gas, China may not, given the voracious energy demands of their growing economy.

Source: Yahoo Finance

And the oil pipeline goes ahead:

Quote:
 
Russia breaks ground on new gas pipeline to China

Russia launched construction Monday of a 770 billion ruble ($20.8 bn) gas pipeline that will help bring gas from the far east of the country to China.

"We are today starting the biggest construction project in the world," President Vladimir Putin said at the ceremonial joining of the first sections of the 3,968-kilometre (2,466-mile) Siberian Strength pipeline outside the eastern Siberian city of Yakutsk.

China's Vice Premier Zhang Gaoli, who was also in attendance at the ceremony, said he hoped the pipeline would be completed within four years.

"China already plans in the first half of next year to start building the Chinese section of the pipeline and we should make an effort to complete construction and begin exploitation of the pipeline in 2018," he said.

In May the two countries signed a 30-year deal which will eventually see Russia supplying China with 38 billion cubic metres of gas per year, an agreement worth some $400 billion.

The pipeline, which will have a total capacity of 61 billion cubic metres per year, will also link the gas fields in Yakustsk and Irkustsk to cities across the Russian far east.

(...SNIPPED)

"If you think you can do a thing or think you can't do a thing, you're right." - Henry Ford

"Courage is going from failure to failure without losing enthusiasm."
- Winston Churchill


"If everyone is thinking alike, someone isn't thinking"- Gen. George S. Patton
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