Russia, China Agree $25Bln Advance Payment in Gas Supply Deal

By Reuters

May 23, 2014

Alexander Medvedev, chief executive of Gazprom Export. Denis Abramov / Vedomosti

St. Petersburg — Russia and China have agreed on a $25 billion prepayment under a supply deal signed earlier this week, Alexander Medvedev, chief executive of Gazprom Export, said Friday.

"A prepayment has been agreed, agreed in principle, details are being discussed. It's $25 billion," Medvedev told journalists on the sidelines of the St Petersburg International Economic Forum.

Russia and China signed a 30-year gas supply contract, worth a total of more than $400 billion, earlier this week during President Vladimir Putin's visit to the country.

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