Gazprom CEO says China gas deal will affect European market

Gazprom Chief Executive Alexei Miller speaks during a ceremony to mark the start of construction on the Serbian leg of Gazprom's South Stream gas pipeline, in Belgrade November 24, 2013. REUTERS/Marko Djurica

Russia’s landmark deal to supply natural gas to Chinawill affect prices in Europe and have an impact on international liquefied natural gas projects, the chief executive of state-run Gazprom said on Friday.

Russia and China signed a 30-year gas supply contract on Wednesday worth a total of more than $400 billion, during a visit by President Vladimir Putin to Shanghai.

“Literally a day ago a really historical event took place, an epoch-making event. We, Russia and Gazprom, have discovered the Asian gas market for ourselves,” Gazprom Chief Executive Alexei Miller said at the St Petersburg International Economic Forum.

“It can be assumed that the signing of the contract will affect gas prices on the European market,” he said without giving any details.

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