China Reiterates Gas Deal With Russia Still On

China has reiterated that it was willing to pursue a major gas deal with Russia despite availability of alternative sources, Reuters reported.

Talks between these two countries broke down late last year when China, frustrated by years of stalemate over price, increased its supplies from rival producer Turkmenistan.

"Now all that remains is the question of prices," said Liu Tienan, the head of China's National Energy Administration.

The chairman of China National Petroleum Corp, Jiang Jiemin, reiterated to an economic conference that most of the key points of a gas deal were agreed.

Under the terms of the gas deal, which was nearly finalized last year, Russia would sell up to 68 billion cubic meters of pipeline gas per year to China.

The two countries have also agreed upon all technical aspects related to the construction of the western gas pipeline.