Gazprom a $400bn deal between Gazprom and CNPC. Under the contract, Russia was to supply 38 billion cubic meters of gas annually over 30 years at a cost of $350 per thousand cubic meters beginning in 2018. During the first half of 2018, Gazprom increased its export about 8.7%. In 2013, the average price of Gazprom’s gas in Europe was about $380 per thousand cubic meters. China offered a loan of about $50bn to finance development of the gas fields and the construction of the pipeline by Russia up to the Chinese border, with the Chinese to build the remaining pipeline.
Gazprom is Gazprom Export LLC, founded in 1973 and before November 1, 2006 known as Gazexport, which has a monopoly on gas exports to countries outside of the former Soviet Union. The majority of Russian gas in Europe is sold on 25 year contracts. In late 2004, Gazprom was the sole gas supplier to Bosnia and Herzegovina, Estonia, Finland, Macedonia, Latvia, Lithuania, Moldova, Serbia and Slovakia. It provided 97 percent of Bulgaria's gas, 89 percent of Hungary's gas, 86 percent of Poland's gas, nearly 75 percent of the Czech Republic's, 67 percent of Turkey's, 65 percent of Austria's, about 40 percent