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Moscow Says Massive "Holy Grail" Gas Deal With China Is 98% Ready

Tyler Durden's picture




 

We have previously profiled the "holy grail" gas deal between Russia and China on several occasions, and with its announcement scheduled for next week (barring some unmitigated disaster) during Putin's first visit to China since Xi's appointment as president last March, it is time to do a status update on where it stands even if according to SCMP, at this point finding the "holy grail" is merely a formality.

The Hong Kong publication reports that China and Russia hope to sign a massive deal for natural gas supply when their leaders meet in a regional summit in Shanghai next week, a senior diplomat has said. Under the deal, Russia will supply 38 billion cubic metres of natural gas annually to China for 30 years. Deputy Foreign Minister Cheng Guoping told reporters yesterday that President Xi Jinping would discuss the deal and other points of co-operation with his Russian counterpart, Vladimir Putin, who will visit Shanghai on Tuesday.

Russian Deputy Energy Minister Anatoly Yanovsky said on Monday that the deal was "98 per cent ready". Supply would begin no later than the end of 2018.

Indicating just how important China now is to Russia, Bloomberg adds that traveling with Putin will be the who-is-who of Russian politics and business:

  • Gazprom CEO Alexey Miller also in delegation as Russian President Vladimir Putin visits China on May 20-21, Yuri Ushakov, Kremlin foreign policy aide, tells reporters in Moscow.
  • Ushakov also says that Russia-China trade may reach $100b as early as this year.
  • Gazprom working on China gas deal, Rosneft working onSinopec deal, Novatek working on deal
  • China-Russia talks demand compromises on both sides
  • Worsening relations with U.S. and allies "clearly to some degree influence" China talks
  • Billionaire Oleg Deripaska also traveling to China

As reported previously, the deal is between Russia's Gazprom and China National Petroleum Corporation (CNPC), but the two sides have yet to agree on pricing despite more than a decade of negotiations. Xi will meet Putin on the sidelines of the Conference on Interaction and Confidence Building Measures in Asia, to be attended by 46 nations and agencies.

"The companies of the two nations are exchanging views on the pricing issue," Cheng said. "We will strive to get the companies to sign the natural gas co-operation deal and [have it] witnessed by both state leaders while Putin is in China."

Cheng said Xi and Putin reached a consensus over natural gas co-operation when Xi attended the Sochi Winter Olympics in February. Companies of both nations have reached agreement on many aspects of the deal.

More:

Russian business daily Vedomosti reported last month that the companies were negotiating a price in the range of US$360 to US$400 per 1,000 cubic metres.

 

Gazprom chief executive officer Alexey Miller said last year that the supply could be boosted to 60 billion cubic metres a year over the period of the contract. The gas would be supplied via two pipelines entering northeast and northwest China.

 

Russia has been trying to diversify its energy export base beyond the European market, where Gazprom generates about 80 per cent of its revenue.

 

China relied on imports for nearly a third of its natural gas needs, Xinhua said.

 

It imported 53 billion cubic metres of natural gas last year, according to the China National Petroleum Corporation.

 

Putin's visit will be his first to China since Xi was named president in March last year.

Quid pro quo: "Observers expect both leaders to take a united stand on major international issues, and Putin may seek China's support on Russia's dealings with Ukraine."

And also on the dollar as we reported in "Russia Holds "De-Dollarization Meeting": China, Iran Willing To Drop USD From Bilateral Trade." In which case expect random Chinese space rockets to mysteriously explode during take off too.

 

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Fri, 05/16/2014 - 09:59 | 4766268 Flakmeister
Flakmeister's picture

Dave gets pissy even now and then, he always comes back...  Until he doesn't, I guess..  FWIW, Dave wouldn't waste his time with the retards here....

I was off in the Rockies for 10 days, but truth be known, my ZH patience is wearing very thin....

And as for the WAIS, it was only a matter of time before the inevitable became obvious. Non-linear tipping points are a bitch....

Fri, 05/16/2014 - 08:55 | 4765983 mayhem_korner
mayhem_korner's picture

Heck, there will be a Republican in the White House then, everything will be fine.

 

Why...do the dishwashers now have to declare a party?

Fri, 05/16/2014 - 08:44 | 4765930 Dr. Engali
Dr. Engali's picture

These poor oppressed Russians need to be liberated from the tyrant that they are living under. After we are done bombing some democracy into them we need to free them from the heavy shackles of oil and gold. They'll thank us later.

Fri, 05/16/2014 - 08:44 | 4765934 Kina
Kina's picture

Russia will supply 38 billion cubic metres of natural gas annually to China for 30 years

 

fucking amazing  numbers..

Fri, 05/16/2014 - 08:48 | 4765950 Flakmeister
Flakmeister's picture

Currently 25% of their NG exports with European NG exports in decline...

No word on where the gas will be sourced from or the CAPEX required....

Hardly a holy grail, except to the chinese who are desperate for NG supplies....

Fri, 05/16/2014 - 09:21 | 4766084 falak pema
falak pema's picture

Could not Putin build LNG plants and ship to China as alternative to pipelines? 

Fri, 05/16/2014 - 09:23 | 4766095 Winston of Oceania
Winston of Oceania's picture

Adds much to the cost.

Fri, 05/16/2014 - 09:27 | 4766112 Flakmeister
Flakmeister's picture

Yes, but the price has to go up then... Pipelines, if available, are always the cheapest option....

So CAPEX is at best comparable comparable, and there are other factors, e.g. availability of LNG ships....

When exports to China look to supercede exports to Europe or even become comparable, I will take closer notice of the geopolitical implications...

 

Fri, 05/16/2014 - 09:35 | 4766157 falak pema
falak pema's picture

I agree there is a trade off maybe dictated by opportunity cost; as Japan and China pay a high price for LNG from Qatar or Iran. 

The pipeline grid from Central/siberian Asia to East Asia will take time to mature (5-10 years if no war). 

Fri, 05/16/2014 - 10:30 | 4766401 Flakmeister
Flakmeister's picture

Agreed, that is a massive CAPEX project....

Fri, 05/16/2014 - 08:44 | 4765935 RadioactiveRant
RadioactiveRant's picture

Nice move but China will end defualting like a gigantic Ukraine.

Fri, 05/16/2014 - 08:53 | 4765977 BrosephStiglitz
BrosephStiglitz's picture

China will default, sure, but if they can keep their shit together internally they will be fine as long as they have energy.  They have the productive capacity.  They make real goods, you know.. unlike the service industry jobs that are so lauded in the West.

Fri, 05/16/2014 - 09:23 | 4766092 Winston of Oceania
Winston of Oceania's picture

You can't keep anything togethers with billions of hungry and angry people.

Fri, 05/16/2014 - 09:25 | 4766099 BrosephStiglitz
BrosephStiglitz's picture

I agree it is a legit worry for the Chinese.  Probably one of the main reasons why they are dropping offshore rigs in disputed territory like there's no tomorrow. 

Fri, 05/16/2014 - 21:10 | 4768280 HardlyZero
HardlyZero's picture

All G20 are scrambling for resources (theirs or nobodys or somebody else's).  All the little bubbles will merge into bigger bubbles that then get hard and crusty at the borders.  It is like beer bubbles on the foamy head.

How many G20 bubbles will merge and survive ?

Scramble is on from G20 down...and below G20 up.  

Amazing times.

Fri, 05/16/2014 - 09:29 | 4766125 Carl Popper
Carl Popper's picture

No they wont...,.  If China can avoid collapsing this next four years then China will blow a 60 year bubble just like the USA did from 1950 to about 2007.  It is too early to get on the China train just yet.  But when that train takes off hang on for an awesome ride.

Fri, 05/16/2014 - 10:11 | 4766317 Flakmeister
Flakmeister's picture

Hardly.... 

The Chinese will be trying to procure icebergs for drinking water as they collapse due to a lack of fresh water....

Fri, 05/16/2014 - 11:10 | 4766581 joego1
joego1's picture

China's economic model will eventually kill them with polution.

Fri, 05/16/2014 - 08:57 | 4765943 falak pema
falak pema's picture

Reposted from Plan Z thread as relevant to Putin's Commanche warrior thread (Thanks WB7) :

Since we are on a thread that looks at the time line of Draghi's takeover of ECB, this posting, as previous ones, highlights how important the Cannes Nov 2011 meeting was to establish Pax Americana's ---via GS Squid--hold over the Euro mess that allowed ejection of Papandreau and Berlu from Euro group and take over by Squid of the ECB show.

Sarko's role in that deal to nudge/convince Merkel; along with Obammy/Geithner bullying/cajoling in the corridors or at the table; was recognised by Obama.

As in his opening speech to the G20 gathering Obama said : Our JOINT history from Yorktown to Libya... to praise Sarko as America's friend like a son of Lafayette.

That remark has awesome connotations today. As what USA/France had done to Q-Daffy in Libya earlier that year, is now coming back to haunt them in : MENA, aka CAR/MAli/Nigeria/Syria/Ukraine/Yemen...and may spill over into Iran and further to South China Seas.

Its that joint Western Libya strategy that started that GLOBAL ball rolling to get Russia/China/Iran and other BRICS now to  form the alternative power axis to Pax Americana today. And Obammy put hs finger on that nerve without understanding its unexpected consequences.

In fact the Cannes G20 meeting summarises the REAL conundrum facing the world today as the Antarctic melts in front of our eyes : 

Our obsession with the financial crisis-- so highlighted in this G20 conclave, where they tried to solve the Greek/Italy problem in EZ and avoid Greek-exit signalling inevitable subsequent collapse of world monetary system-- is NOT the REAL CRISIS ahead of Mankind.

It is the rarified ENERgy< CRISIS which is looming ahead which is the real challenge to humanity.

As, in FACT, the last thirty years under Reaganista Logic have hid under the carpet THE HUGE AND ARTIFICIAL UNDER-EVALUATION OF FOSSIL FUELS THAT REAGANOMICS HOISTED ON THE WORLD --(WITH SAUD'S COMPLICITY)-- TO FUEL THE FINANCIALISTA PUMP OF RENTIER 1% WORLD ECONOMY which blossomed under financial derivatives and Zirp scamming, NOW seemingly READY TO HIT THE FIAT ASYMPTOTE.

That is the real conundrum facing the World that the Putin PUt will reveal in the coming years.

And the Cannes G20 opening speech confirmed that Sarko and Obammy were chums in  raping Libya for the Pax Americana led  Oligarchy. 

It had AWESOME geopolitical consequences...like in Ukraine today! 

PS : And Putin's Commanche warrior play with China Gas deal...BANZAI !

Fri, 05/16/2014 - 09:01 | 4765998 BrosephStiglitz
BrosephStiglitz's picture

Yeah.. I don't disagree, but this has been in the works for a long, long time.  Russia has been courting the BRICS for a while now.  Also Saddam was the original one trying to move away from the petrodollar.  Look how that turned out.

If you can't rule by adoration, rule by fear.  Since the US has lost its international adoration, even amongst its most stauch allies (see: friction with the Israelis and the British not following the US in recent combat operations), it is now attempting to rule by fear.

All this geopolitical crap is going to blow up in the leader's faces at some point- it will set the global economy back 30+ years and then the game for global hegemony will continue unabated.  The rich will stay rich.  The poor will be even poorer, and tyrants will be urinating on the mountains of bodies that are stacked sky-high. 

Fri, 05/16/2014 - 09:45 | 4766201 Spastica Rex
Spastica Rex's picture

Stick 'round here for a while - that will temper your optimism.

Fri, 05/16/2014 - 10:16 | 4766337 elwind45
elwind45's picture

What a complete load did you just wiki sons of cinncinati? Libya was a freebie and had nothing to do with anything but the gold haul same as 911? Get the gold and we will manufactor a reason later? You want a piece of the red meat than focus on TURKEY and to look smart start writing negative THINGS ABOUT ITS RULERS? Just make shit up to help liberate somebody or have your first lady dig up an ancestry to Turkey or data mine kidnappings and latch on to it with your heart mind and soul WE MUST SAVE EVERYBODY FROM THEMSELVES? Not as police but as a JESUS FIGURE BRINGING HOPE and a weapons cache?

Fri, 05/16/2014 - 08:46 | 4765946 Azannoth
Azannoth's picture

Russia has the Resources, China has the Production .. but who is going to be Consumer?!

Fri, 05/16/2014 - 08:49 | 4765953 falak pema
falak pema's picture

Mohdi who loves bubbles, as he will ramp up India like the proverbial toad that wants to become sacred cow! 

Fri, 05/16/2014 - 09:03 | 4766010 BrosephStiglitz
BrosephStiglitz's picture

At some point the Yuan will appreciate as a currency.  That will certainly boost consumption.  I doubt global consumption will see '06 levels for a while though.

Fri, 05/16/2014 - 09:28 | 4766121 Flakmeister
Flakmeister's picture

Yuan appreciation: That is the last thing the Chinese want....

Fri, 05/16/2014 - 09:40 | 4766176 BrosephStiglitz
BrosephStiglitz's picture

Yeah they have a heap of problems to solve before then, but time is running out for them.

They are offshoring a lot of their industry to Africa now apparently because of overproductive capacity.  The Chinese might not want currency appreciation, just like they'd probably be happier as the number 2 economy, but it has to come eventually.  They have also grown so quickly that the wealth hasn't distributed well.

That's the problem with being the richest guy in the neighborhood- everyone is expecting hand-outs and advice on what to do.  I think most of the US (aside from the power brokers) are just about done with being the global po-lice.  China still has that fun to come.

Fri, 05/16/2014 - 09:56 | 4766259 MilwaukeeMark
MilwaukeeMark's picture

The trick to being a parasite is how to get the most blood out of the host, for the longest possible term, all the while not killing it.
China needs the US consumer alive. There is no way to keep their masses placated, to grow their infrastructure if they kill off the host, USA. So expect them to buy just enough T-bonds to keep the host's heart beating, but nit so much as we can regain our health.

Fri, 05/16/2014 - 08:47 | 4765949 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Sure and when the Tsar gets annoyed at something, it's wax off.

Fri, 05/16/2014 - 08:58 | 4765958 Kawaii Empress ...
Kawaii Empress Natalia Poklonskaya's picture

Not bad, I think if they get close to 400 funny money/toilet rolls, very good deal all around, as the price would be comparable to that paid by Turkey for higher volume. Not sure who they are going to drop really (if they are at all) as most of the countries are paying more than that already like Poland 525 (most expensive- suck shit). I guess they would be better off without the UK, Netherlands, Hungary, Austria. I think it would be wise to keep the Frenchies and Finns on to retain some friendliness and trade between the countries.

Fri, 05/16/2014 - 08:49 | 4765959 freedom5000
freedom5000's picture

why would they trade in USD anyway? it never ever made any sense. if they traded in USD, maybe US could short it's own dollar to hurt Russia's income

Fri, 05/16/2014 - 08:51 | 4765965 Time for Titus
Time for Titus's picture

 Xi and Putin reached a consensus over natural gas co-operation when Xi attended the Sochi Winter Olympics in February

 

So ... we thought Putin was getting punked by the New World Order while he was watching the Winter Olympics. Turns out he was punking them.

Fri, 05/16/2014 - 08:51 | 4765968 mayhem_korner
mayhem_korner's picture

 

 

Order of magnitude of this deal: 38 billion m3 is equal to about 1,300 billion cubic feet (bcf), or 3.6 bcf/day.  U.S. production is somewhere in the neighborhood of 65bcf/day.  So this deal is equal to about 5% of U.S. aggregate production.  Which makes it huge.

Fri, 05/16/2014 - 08:59 | 4765994 sangell
sangell's picture

Its, at the top end, about what China imports now from Kazhakstan ( which is also now a Chinese satellite).

Fri, 05/16/2014 - 08:52 | 4765972 crunchyfrog
crunchyfrog's picture

Ping me when the first cubic meter flows.

For at least ten years now Russia has been shipping oil by train and flaring natural gas because they don't have the pipelines.

Fri, 05/16/2014 - 09:02 | 4766008 mayhem_korner
mayhem_korner's picture

 

 

Good point.  Gas is there, but the infrastructure to get it out is another question. 

Not entirely sure it matters, though.  If the Russians start moving heavy equipment to Siberian hell and pierce the ground open, that would cause the markets to hedge against the possibility of non-liquefied natural gas infiltrating the far east.  Which would have massive ramifications on the prices not only in the region but globally, as much of the LNG delivered in that region is indexed to Brent.  So the physical energy play may not need to be fully borne out for this deal to cause problems.

Fri, 05/16/2014 - 09:29 | 4766129 douglas
douglas's picture

Massive Pipeline construction, good for Russian GDP?

Fri, 05/16/2014 - 13:53 | 4767079 dontgoforit
dontgoforit's picture

Maybe we can go over there and help build it like the chinks came over here to build the Union Pacific.

Fri, 05/16/2014 - 09:58 | 4766244 Kirk2NCC1701
Kirk2NCC1701's picture

Speaking of missing pipelines... did you know that China, Iran and Afghanistan were working on a pipeline deal in 2000, and that the US was rejected by the Taliban to run their own pipeline? 

Had not 911 happened a year later and had the US not invaded Afghanistan, things would have looked very different for the petro-dollar.  As it is, 911 gave the US the pretext to invade and break that deal, and to create "poppy fields forever" for Chinese and Russian opium consumption.   Do you see how US "foreign policy" works? 

Fri, 05/16/2014 - 08:55 | 4765981 sangell
sangell's picture

They used to call this 'knocking head in Peking' but make no mistake, Putin is being bent over and sodomized by China on the price. He has no option but to take it or have nothing.

Fri, 05/16/2014 - 09:26 | 4766111 IndianaJohn
IndianaJohn's picture

Could you be writing about Bath House Barry? But on some other article?

Fri, 05/16/2014 - 10:00 | 4766148 Flakmeister
Flakmeister's picture

Nyet....

For the money that Putin will have to spend to prop up the mess that is called the Crimean economy, ($5-6 billion p.a.) he could have built significant pipeline infrastructure pointing east...

Fri, 05/16/2014 - 09:01 | 4766005 Frostfan1
Frostfan1's picture

Let's see if Russia is so enthusiastic to take on Chinese currency once their economy starts to tank.

Fri, 05/16/2014 - 09:38 | 4766166 douglas
douglas's picture

Maybe the Russians are thinking its just a question of time - thanks to globalization and the fact that for the first time in history ALL currencies are FIAT, when one of the major currencies go then all will follow in short order.  At least the Chinese will have Gold to back up their new currency after THEY (those who hold the Gold) set the price North of $10,000 an oz.  Dont think that the US Tungsten in Ft Knox is gonna do much good for the dollar...

Fri, 05/16/2014 - 09:49 | 4766225 RadioactiveRant
RadioactiveRant's picture

This is probably the 2% they can't decide upon, Yuan or Rubles.

Fri, 05/16/2014 - 11:23 | 4766653 joego1
joego1's picture

Based on their history I'm sure they will stay best of friends as the global economy unravels.

Fri, 05/16/2014 - 09:05 | 4766014 sangell
sangell's picture

What this deal really means is that for the next 4.5 years Russian gas revenues will shrink as Europe reduces the 80% of Russian gas exports it now takes to perhaps half that. Only in 2019, at the earliest, will Gazprom see its revenues stop DECLINING. Since China is not going to pay MORE than what Europe is now paying for Russian gas its not even a given that Chinese imports will be profitable. Russian had wanted $13.50 per million BTUs but is going to have to settle for something like $11.

Fri, 05/16/2014 - 09:14 | 4766052 Carl Popper
Carl Popper's picture

Only Democrats are stupid enough to use the dollar as a weapon.   They are accelerating the demise of the dollar in international trade.

 

The dollar is an excellent weapon, but only when strategies are used to make it convenient for everyone.

Fri, 05/16/2014 - 09:30 | 4766135 Flakmeister
Flakmeister's picture

Beg pardon?

Fri, 05/16/2014 - 09:30 | 4766132 Warhead
Fri, 05/16/2014 - 09:34 | 4766147 rodgerleanne
rodgerleanne's picture

Wow!  What a pipeline that will be.  But, I suppose the Russian environmentalist wackos will delay it for decades like our Keystone.  Ha! Ha! Maybe we can have a race to see whose pipeline gets completed first - our Keystone or theirs.  The loser gets their leader shit-canned.

Fri, 05/16/2014 - 10:01 | 4766277 elwind45
elwind45's picture

Wow someones confused between building a needless shortcut across the northern wastelands of north America and the massive dollar collapsing main event? Or are you just giddy because WALTERS is retiring and you need to make a statement in support for tv before they bury the time capsule?

Fri, 05/16/2014 - 09:39 | 4766174 tony wilson
tony wilson's picture

putnic mays have der minerals and der oil butts we gots homelands  frackin gas,canuck tar oil and mores importantlee beliefs and

are youneek exceptablism

Fri, 05/16/2014 - 09:55 | 4766249 elwind45
elwind45's picture

And its been a love story with the Saudis since 1973? We need Putin to do whatever he does to keep that price up? BOO ROFLOL

Fri, 05/16/2014 - 11:22 | 4766645 joego1
joego1's picture

goldman says "youneek cannibalism"

Fri, 05/16/2014 - 09:50 | 4766226 elwind45
elwind45's picture

The holy grail is a fantasy along with the rest of that black book nonesense made for the Tv. I sure hope they can get something done before the dollar collapse and they have to re-work the gases value. You would not want to be around when these two fight over DOLLARS?

Fri, 05/16/2014 - 09:52 | 4766234 DR
DR's picture

You can read the "Fuck off USA" in that photo.....

Fri, 05/16/2014 - 09:57 | 4766264 ptolemy_newit
ptolemy_newit's picture

CRAMSTAN

China, Russia and Mongolia with the Stans.  More than 2 billion people young, so USUK is left out?  The energy left in the word is in cold climate, start to think longer term

Russia turns it senergy to the east and Euro is cold, really they are bumbling idiots in Brussels

Fri, 05/16/2014 - 11:09 | 4766576 IridiumRebel
IridiumRebel's picture

http://www.bbc.com/news/education-25559089

The UK is doing fucking great....

Fri, 05/16/2014 - 10:01 | 4766281 Atlas Crapped
Atlas Crapped's picture

"but the two sides have yet to agree on pricing despite more than a decade of negotiations."

This is because "pricing" in a dollarized world has been controlled by the hyperinflation of the dollar for more than 30 years, a hyperinflation that will result in a world wide re-pricing of all organic wealth such as energy, fine art, real estate and the like.

The coming PRICE hyperinflation is purely a byproduct of withdrawal of foreign dollar support. So don't view the coming price changes in terms of a typical sovereign hyperinflation incident, but rather a world-wide "re-pricing" event following the failure of the massive derivative price grid controlled for decades by the derivative function of the dollar.

Therefore, of course they are confused. How can you price fix a 30 year commitment when the world is subject to such radical price structure change in all fiat currencies.

Oh, but wait, there is a way. GOLD! Price your agreement around the free market relative currency price of gold for yuan and ruble. It is part and parcel to the competing global monetary system the Eurasian Union (and BRICS) are advancing in all their bilateral trade agreements.

www.roacheforque.blogspot.com

Fri, 05/16/2014 - 10:22 | 4766365 elwind45
elwind45's picture

I hope you aren't trading off your own horse shit

Fri, 05/16/2014 - 10:30 | 4766378 forgottenozonehole
forgottenozonehole's picture

And so they will be accounted for in a "of worthless / ponzi diagrammatic / shit worth / the created out of thin air" Federal Reserve notes.???
ROTFL ....

 This is today's expression on his face MaxKeiser, Jim Willie, Silver ... something, and the rest of others like them clowns.

 

Fri, 05/16/2014 - 11:30 | 4766673 joego1
joego1's picture

If the world looses faith in the petro dollar/euro/yen it will tak a long time for it to come up with anything new with a bunch of wars going on at the same time. Buckle up.

Fri, 05/16/2014 - 14:46 | 4767284 Rock On Roger
Rock On Roger's picture

Gold

Energy trade backed with gold.

 

Stack On

Fri, 05/16/2014 - 11:43 | 4766718 RaceToTheBottom
RaceToTheBottom's picture

This will cause Syria to crumble more.

Fri, 05/16/2014 - 11:53 | 4766745 BlackSwanCrash
BlackSwanCrash's picture

last one left in Europe, turn the lights off on your way out

Fri, 05/16/2014 - 13:45 | 4767053 no1wonder
no1wonder's picture

Voice of Russia (May 13): 

Russia strives to exclude the dollar from energy trading

Russian press reports that the country's Ministry of Finance is ready to greenlight a plan to radically increase the role of the Russian ruble in export operations while reducing the share of dollar-denominated transactions. Governmental sources believe that the Russian banking sector is "ready to handle the increased number of ruble-denominated transactions".

Fri, 05/16/2014 - 14:01 | 4767110 kurt
kurt's picture

Its their business and none of my own.

Fri, 05/16/2014 - 14:06 | 4767132 AdvancingTime
AdvancingTime's picture

In the middle of 2012 Vladimir Putin pledged  to strengthen Russia’s economic and political ties with China after skipping a Group of Eight summit in the U.S. Russian President Vladimir Putin vowed to boost trade and cooperation with China after meeting Chinese leaders as the sides push against Western calls for stronger action in Syria and Iran. 

The two leaders also discussed North Africa, the Korean Peninsula and Iran's nuclear program. In total, Putin and Hu oversaw the signing of 12 agreements, including the the creation of a $4 billion joint investment fund. Putin's efforts are beginning to bear fruit as it now appears he has gained a lot of leverage and the power to annoy the West in many areas. More on this subject in the article below.

http://brucewilds.blogspot.com/2012/06/putin-strenghtens-ties-with-china...

Fri, 05/16/2014 - 14:31 | 4767242 rosiescenario
rosiescenario's picture

Just a modest offer of assistance to solve their pricing dilemma they mention: "As reported previously, the deal is between Russia's Gazprom and China National Petroleum Corporation (CNPC), but the two sides have yet to agree on pricing despite more than a decade of negotiations".....I am sure that the CME could assist in setting fair, unbiased prices for this deal on an ongoing basis.....

Fri, 05/16/2014 - 14:40 | 4767273 steveo77
steveo77's picture

UPDATE: (PS Dandelions are a great Mercury and Radioactive Heavy Metal Chelator)

We had an awesome meal last night based on Dandelions.    We spent around 10 minutes picking the best of the best leaves.

Miso Soup --- Fantastic!    No bitterness, and a mild tanginess, this ain't your grandma's Miso Soup, or maybe it is.

Dandelion Tempura --- fantastic, fried with a little flour, taste great with or without salt.    We also fried some complete plant, leaves and flower, and those were even better.    We did not use any root.

Butter fried Dandelion, was still pretty bitter, but the dogs loved it.

Fresh leaf, just washed, too bitter to be enjoyable, but this is late in  the season, the younger leaves do make good salad accompaniments. 
http://nukeprofessional.blogspot.com/2014/05/dandelions-excellent-health...

Sat, 05/17/2014 - 02:42 | 4768778 Drop out
Drop out's picture

Dandelions are much hated like moss. voted

Dandelion Moss for president

Sat, 05/17/2014 - 02:42 | 4768779 Drop out
Drop out's picture

Dandelions are much hated like moss. voted

Dandelion Moss for president

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