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Russia to Create Unified Gas Pipeline Network, Putin Says

The $400 billion gas-supply deal signed earlier this week between Gazprom and China's CNPC gives Russia an opportunity to create an extensive network to supply gas to Europe and Asia, and improve energy provision at home, President Vladimir Putin said Friday.

Speaking at the St. Petersburg International Economic Forum, Putin said that the development of infrastructure in eastern and western Siberia will pave the way for Russia's Far East to be connected with the western part of the country, Interfax reported.

Putin added that Russia's gas reserves are undervalued and could be sufficient to supply China for 50 years, instead of the 30 years that Beijing signed up for in Wednesday's landmark deal.

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