(VOVworld) – China and Russia signed a multi-billion gas deal Wednesday after a decade of negotiations.

Gazprom CEO Alexei Miller (centre) and CNPC Chairman Zhou Jiping shake hands as Russian President Putin looks on during the signing ceremony in Shanghai

The deal between Russia’s Gazprom and China’s National Petroleum Corporation was sealed one day after a meeting in China between Russian President Vladimir Putin and Chinese President Xi Jin-ping. On Tuesday, the two leaders delivered a joint statement saying China and Russia will become comprehensive energy partners and promising to strengthen co-operation in energy and infrastructure. The agreement is expected to deliver to China some 38 billion cubic metres of natural gas a year for 30 years. No official price has been given but the deal is estimated to be worth over 400 billion USD.