Shares in Gazprom rise almost 2 pct after China gas supply signed

MOSCOW Wed May 21, 2014 5:59am EDT

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MOSCOW May 21 (Reuters) - Shares in top Russian natural gas producer Gazprom rose almost 2 percent on Wednesday after it signed a long-awaited gas supply deal with China.

The deal is believed to involve Gazprom supplying 38 billion cubic metres of gas per year to China. It has been unofficially valued at over $400 billion.

Gazprom shares were up 1.27 percent on Tuesday's close by 0940 GMT. They had fallen before news of the deal was announced. (Reporting by Alexander Winning)

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