Gazprom Shanghai, Gazprom and the China National Petroleum Corporation made a contract worth $400 billion over thirty years. The contract was for Gazprom to deliver 38 billion cubic meters of natural gas per year to China beginning in 2018. In August 2014, construction began with pipes for the Power of Siberia pipeline delivered to Lensk, Yakutia. Russia will start supplying natural gas to China through the Power of Siberia pipeline on December 20, 2019 as part of the two countries' $400 billion energy pact. Beijing and Moscow are now negotiating over a second Far Eastern gas pipeline. In April 2001, Gazprom
Gazprom of Romania's, 36 percent of Germany's, 27 percent of Italy's, and 25 percent of France's gas. The European Union receives about 25 percent of its gas supply from Gazprom. In 2014, Europe was the source of 40% of Gazprom's revenue. The proportion of Europe’s gas bought in the spot market rose from 15 percent in 2008 to 44 percent in 2012. In September 2013, during the G20 summit, Gazprom signed an agreement with CNPC that the Henry Hub index would not be used to settle prices for their trades. On 21 May 2014, Putin met with Xi Jinping and negotiated