By JAMES MARSON
Russia and China are set to sign a memorandum on gas
supplies after years of seeking to reach a deal that has been
hampered by disagreements over pricing and potential routes, a
person familiar with the situation said Friday.
The deal could potentially be reached to deliver 38 billion
cubic meters of gas annually to China beginning in 2018, the
The two sides are still negotiating on price, but the person
familiar with the talks, said there is a "good chance" a deal
will be reached this year.
Earlier this month, Gazprom CEO Alexei Miller held talks
with senior China National Petroleum Corp. officials in an
effort to conclude the long-discussed gas-supply deal. In
February, Gazprom said it was aiming to sign a supply contract
with CNPC by the end of 2013.
Gazprom is seeking to boost supplies to Asia amid falling
demand and regulatory pressure in its most lucrative market Europe.
Dow Jones Newswires