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Gazprom Eyes China Deal

Gazprom expects to sign an agreement in September on the basic terms of a deal to provide gas supplies to China and aims to conclude the deal by the end of this year, the company said.

"We have moved forward in talks, [but] the pricing formula is still under discussion," said a spokesman.

Gazprom said its chief executive officer, Alexei Miller, and the chairman of China National Petroleum Corp (CNPC), Zhou Jiping, had met in Moscow "to discuss the issues of a long-term gas supply deal."

In March, Gazprom and China signed a memorandum of understanding on supplies of 38 billion cubic meters of Russian gas to China each year via a pipeline, starting from 2018.

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