The shipments to China would also represent a nearly 25% increase in Russia's gas exports outside the former Soviet Union. Mr. Putin said that under the deal, Russia would spend at least $55 billion to develop the necessary infrastructure in Russia, while Beijing would spend $20 billion within its territory.
The two sides didn't mention whether China would take stakes or participate in developing gas supplies on the Russian side, something experts say has been long sought by Beijing as a way to secure supplies.