Sources:

http://www.theguardian.com/world/2014/may/21/russia-30-year-400bn-gas-deal-china

Russia and China have signed a 30-year, $400bn (237bn) deal for Gazprom to deliver Russian gas to
China in a deal that underscores Russia's shift towards Asia amid strained relations with the west.
The contract to provide 38bn cubic metres of gas each year was signed by the state-owned gas
companies Gazprom and CNPC (China National Petroleum Corporation) in the presence of the
countries' leaders, Vladimir Putin and Xi Jinping, at the end of Putin's two-day visit to Beijing.
Aled Jones, director of the Global Sustainability Institute at Anglia Ruskin University, warned that the
Britain had the equivalent of only three years of North Sea gas left on the basis of current
consumption and without the use of imports. "Russia's new pipeline to China will increase
competition for natural gas from 2018 and will most likely increase the cost we pay for natural gas
here in the EU. It will certainly increase the pressure on European countries to find alternative gas
supplies," he said.
Assuming that 38bn cubic metres of gas are delivered each year, the price of the gas is about $350
(207) per thousand cubic metres, according to analysts. This is in the ballpark of what the Chinese
had been insisting on, compared with Gazprom, which had reportedly been asking for $400 per
thousand cubic metres. Miller previously said the gas supply could potentially grow to 60bn cubic
metres a year.

In contrast, Gazprom sold gas to western Europe for an average of $380.50 per thousand cubic
metres in 2013, according to Bloomberg. Russia provides around 30% of continental gas, some of
which is delivered to the UK.

http://www.independent.co.uk/news/business/russia-launches-construction-of-gas-pipeline-tochina-in-400-billion-deal-9704237.html
After we create a network of gas pipelines here, in the Far East and Siberia, well have a possibility
to unite the European part of the gas pipeline system with its eastern part and, from the standpoint
of export possibilities and expanding the geography of the countrys gas infrastructure development,
this will give us big advantages in rechanneling gas flows, depending on the world market situation either to send more gas to the west and achieve greater effect or to the east, the Russian president
said.

http://www.bloomberg.com/news/2014-04-09/putin-seen-signing-china-gas-deal-as-crisis-forcesrussia-s-hand.html

Until a China pipeline is built, Russia has few export markets for gas outside Europe, leaving it
vulnerable to sanctions and competition from U.S. exports of shale gas.
The gas-supply deal allowing the construction of the Power of Siberia pipeline across eastern Russia
into China has foundered on price. To finance the $22 billion pipeline, Russia sought to match the
rates it got for its gas in Europe, a level China hasnt been willing to pay.

http://politics.stackexchange.com/questions/2971/what-plans-do-european-countries-have-ifrussia-closed-gas-pipelines-to-them