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This is a major win for Russia, taking the total volume of its supplies to China to 106 billion cubic meters a day. This allows it to make up for the deliveries lost to Europe as a result of their own undoing.
In spite of this announcement, it has been conceded that gas prices and construction costs will be negotiated separately. These remain major sticking points in reaching an agreement, so it's not evident that Russia is any further along now than it was previously.