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Russia Hastens China Energy Pivot With Oil, LNG Supply Deals

Russia signed deals to supply China with crude oil and liquefied natural gas, deepening the embrace between the world’s largest energy producer and the fastest-growing major economy.

OAO Rosneft agreed on long-term contracts to supply more than 2.6 billion barrels of crude oil to China National Petroleum Corp. over the next 25 years. The Beijing-based company also agreed to buy a 20 percent stake in OAO Novatek’s Yamal liquefied natural gas project, the first time a Chinese company will participate in a Russian gas-export project.