China wins in the long term and Russia in the short term, says Ole Hansen Saxo Bank Head of Commodity Strategy The USD 400 billion gas deal struck between...

China wins in the long term and Russia in the short term, says Ole Hansen Saxo Bank Head of Commodity Strategy The USD 400 billion gas deal struck between Russia and China is said to be signed, but what do we know about it? Saxo Bank Head of Commodity Strategy Ole Hansen says not much and notes that there hasn't really been any major reaction across European energy markets. Gas prices in Europe have been falling for the last month and are at their lowest levels in almost four years. Hansen says the real winner is China in the long term because it reduces the reliance on coal-burning plants, and at current demand, the agreement will cover 25 percent of China's natural gas demand. However in the short term, Russia also wins as Putin proves he doesn't have to rely on Europe for gas customers. (VIEW LINK)