Patreon and donations: http://www.patreon.com/kouturemag https://www.buymeacoffee.com/Kouturemag https://www.ko-fi.com/kouturemag https://paypal.me/kouturemag?country.x=GB&locale.x=en_GB MOSCOW/SINGAPORE (Reuters) -President Vladimir Putin unveiled new Russian oil and gas deals with China worth an estimated $117.5 billion on Friday, promising to ramp up Russia's Far East exports at a time of heightened tension with European customers over Ukraine. Russia, already Beijing's No. 3 gas supplier, has been strengthening ties with China, the world's biggest energy consumer, reducing its dependence on its traditional European energy customers. "Our oilmen have prepared very good new solutions on hydrocarbon supplies to the People's Republic of China," Putin said at a meeting with Chinese President Xi Jinping to discuss closer cooperation. "And a step forward was made in the gas industry," he added, referring to a new contract to supply 10 billion cubic metres (bcm) per year to China from Russia's Far East. Putin was in Beijing to attend the Winter Olympics. The gas sales alone could generate around $37.5 billion over 25 years, according to Reuters calculations, assuming an average gas price of $150 per 1,000 cubic metres as reported by Russian gas giant Gazprom for its current deal with China. Kremlin spokesman Dmitry Peskov said the deal was for 25 years, while a Chinese industry source said it was for 30. Separately, Russian oil giant Rosneft, headed by long-standing Putin ally Igor Sechin, signed a deal with China's CNPC to supply 100 million tonnes of oil through Kazakhstan over 10 years, effectively extending an existing deal. Rosneft said the new deal was worth $80 billion. The agreements bolstered the rouble and the Russian stock market, including shares in Rosneft and Gazprom. ... https://www.youtube.com/watch?v=6_71AJUR108