Putin’s China Gas Coup Risks Lower Returns for Gazprom
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What’s good for Russia isn’t necessarily good for the country’s largest company.
President Vladimir Putin hailed an “epochal event” yesterday after state-run natural gas exporter OAO Gazprom signed a $400 billion deal to supply fuel to China for 30 years. The agreement was a coup for Putin, who showed he can build ties with Asia’s leading economy at a time when the crisis in Ukraine is souring relations with the U.S. and Europe.