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China, Russia to sign gas supply agreement

Russia and China have prepared a draft for an intergovernmental agreement on gas supplies through the "Far East" route, the Russian government said Monday in a statement signed by Russian Prime Minister Mikhail Mishustin.

"The agreement is concluded in order to strengthen cooperation between the parties in the energy sector and defines the main conditions for cooperation between the parties in terms of natural gas supplies from the Russian Federation to the People's Republic of China," read the statement.

The news came after Russia's Gazprom reportedly said at the beginning of the month that it would increase gas exports to China through its Power of Siberia pipeline in the coming years.

Baha Breaking News (BBN) / JG