The pricing formula for gas - which was a stumbling block for years - has not been revealed.

However, based on the revenue assessment, Gazprom should expect to be paid about $350 per thousand cubic metres, somewhat less than it had hoped for.

To resolve the deadlock on the gas price formula, negotiators appear to have involved Rosneft president Igor Sechin.

Speaking earlier this week in Shanghai, Sechin revealed that Russian President Vladimir Putin proposed to exempt Gazprom from paying gas production tax at its two greenfield projects in East Siberia, which will serve as the source of gas to China.

Without