Russia’s Gazprom GZAVI.MM has agreed a 30-year contract to supply China’s CNPC with natural gas from a new pipeline connecting Russia’s Far East with China’s northeast, an industry official with direct knowledge of the deal told Reuters on Friday.

The first gas will start flowing in two to three years, with volumes building up to 10 billion cubic meters a year around 2026, said the person, who declined to be named due to company policy. The deal will be settled in euros, the person added.

Gazprom did not immediately respond to a request for comment.
Source: (Reporting by Chen Aizhu in Singapore and Vladimir Soldatkin in Moscow, Editing by Timothy Heritage)