Russia has failed to reach agreement on an elusive 30-year gas supply deal with China in time for signing on Friday, with the two sides unable to bridge differences on price, as Reuters reported. Russian President Dmitry Medvedev and Chinese President Hu Jintao had hoped to sign deal, which could be worth up to $1 trillion, at an investment forum in St Petersburg. The agreement would help power Beijing's booming economy and allow Moscow to diversify exports away from Europe. But Interfax news agency quoted Alexander Medvedev, export chief at Gazprom, as saying the state-controlled gas monopoly and China's CNPC had not yet reached agreement. "We will not sign anything this time," Alexander Medvedev was quoted as saying. Officials at Gazprom could not immediately be reached for comment.
