chairman of the border gazprom actually there are from the moscow compress the station. president putin chairman she. together with the team that took part in the construction of the power serbia and we you know and i want to be dispensed. with the demands. compressor station when we go. hour is $180.00 megawatts it's on the border between china and russia and will supply the necessary pressure that is needed to supply natural gas from russia i want to start with china power there is one of the most large scale project of god's promise almost 10000 people were involved in construction. and 4500. pieces of. machinery we used. and more than. 130000. were used crossings over the major reviews were built. and were also fields crossing over small streams. in the distance to the chinese border in 2160 kilometers and then we'll build another 804 kilometers to the. gas field it's currently. drilling down that is convicting will feel that the total distance will be almost 3000 kilometers. today will launch be disclosed natural gas from. will filled it's a unique one of. reserves

pipeline will run again from fields of your cuts to yahoo sc in siberia but the russian gas group with gazprom sealed the $55000000000.00 deal with china's oil and gas major china national petroleum corporation on the move does reflect moscow's attempt to try to mitigate the hardships that they've they've had from a western part anshul sanctions those were imposed like we remember in 2014 during the annexation of ukraine's crimea and meanwhile like he spoke earlier beijing is fighting a fight of their own with a trade war that's still ongoing but i do want to know also that according to the international energy agency china is expected to become the world's largest gas importer by next year and it's going to account for more than 40 percent of some global gas demand through 2024 and the pipe. blanket for fulfilled nearly 10 percent of that demand by that year in china and russia are already discussing a 2nd or even 3rd pipeline so apparently working very well this it's only day one but it's that's a long way to go so the u.s. i'm sure is wondering where do we go from here a huge accomplishment

president xi jinping to extend by water all trade turnover to $200000000000.00. 2024 so russian that gazprom built the russian side from new siberia gas fields all the way to the chinese borders meanwhile the chinese side starts right there in northern the hay along john province and it reaches southward down to shanghai it runs total more than 3750 miles and it will eventually carry this extraordinary amount of natural gas of up to $38000000000.00 cubic metrics meters or what's also over 10000 liquid gallons annually for 30 years that's a long time a big deal today for both countries you actually mentioned how much gas is expected to come out of this so how big in the grand scheme of things is this project i mean when we look at the energy needs of somewhere like china what are they looking at well because they are the largest energy consumer it's really important to note that right now the majority of china is still operating under the whole it's coal powered so this this is huge for them to tackle some small again and the release of carbon dioxide emissions so this is again huge for nato

well gazprom is saying that it will pay ukraine $2900000000.00 to settle a legal raw of writs gas exports that runs through the north stream one pipeline they gas transit agreement was mediated by the european union and announced in principle in but when on friday under the 5 year agreement ukraine is expected to withdraw all outstanding legal claims against gazprom. now 2 days of talks are set to start in sudan's capital hard to him and resolving disputes over the largest hydroelectric dam in africa $4000000000.00 ground the ethiopian renee's on its dam on the river nile is now nearing completion the ethiopians say it will provide power to $17000000.00 people and revitalize the economy but neighboring sudan and egypt feel the project will reduce supplies of water for drinking an irrigation another meeting is planned next month in washington to try and finalize the agreement with me in the studio now is the president of the world association for sustainable development so this i mean there are real fear is about there being a shortage of drinking water this is really as basic as a dispute

further worsened we also have the case that gazprom some $3000000000.00 to ukraine over odets according to the stockholm arbitration court so you could say that trust in the russians isn't great at the moment but obviously if this deal is in is confirmed we're waiting here they say they've reached it in principle then this will be something that can be possibly built on to improve them in the future and i was david stern reporting from kiev let's take a look now at some of the other business stories making news around the world france's competition authority has fined google 150000000 euros for anti can head to behavior and for having unclear advertising on the google ads page european countries have stepped up scrutiny of major u.s. take companies and september google agreed to pay nearly 1000000000 euros to french authorities to settle a fraud probe. german workers have more money in their pockets according to the german statistics office in the 3rd quarter of this year gross incomes rose by 3.4 percent compared to the same period last year prices on consumer goods have only gone up 1

this is that gazprom deal being signed, confirmed by president zelensky as well as the ceo of gazprom. this will allow russia to continue exporting natural gas to europe through those pipelines that cut through ukraine. vonnie: coming up, department stores have had a dismal 2019 while discounters have seen hope. hope. >> let's get the first word. former nissan renault chairman is no longer under house arrest in japan. he has arrived his parents state of lebanon that was unclear if he escaped house arrest or if a deal had arranged for his release. prosecutors federal charging the man arrted for a stabbing of several peop during hanukkah celebration. officials say the man burst into a home of a hasidic rabbi on saturday night and wounded five people with a large knife. wvil rights icon john lewis diagnosed with stage four pancreatic cancer. the most senior black lawmaker in congress is 79 years old. he said he has never faced a fight like this one. in 1955, he was beaten by alabama police during a civil rights march and suffered a skull fracture. the u.s. fires airstrikes on five bases

no longer be allowed to enter america the 1230 kilometer long pipeline is a subsidiary of russia's gazprom and is meant to transport natural gas under the baltic sea from russia to germany directly circumventing ukraine the project is more than 80 percent completed and is supposed to start operating in mid 2020. nord stream too has the potential to double the amount of russian gas imported by germany the country needs more gas as a stable source of energy when it stops using coal and nuclear power. democrat and republican lawmakers in the u.s. fear that pipeline could give moscow greater political leverage over germany and the entire european union which the u.s. senate is expected to approve the bill by the end of the week and president trump said on wednesday that he must sign it into law his soon as possible. first controversy over walk away china has denied that pressured the government of the far islands to hugh suavely equipment for its 5 g. network the islands are autonomy as region belonging to denmark china's denial follows reports the chinese ambassador threatened to call a trade

between the 2 countries obviously because of that and has further worsened we also have the case that gazprom some $3000000000.00 to ukraine over odets according to the stockholm arbitration court so you could say that trust in the russians isn't great at the moment but obviously if this deal is in is confirmed we're waiting you know they say they've reached it in principle then this will be something that can be possibly built on to improve them in the future david you mentioned the financial aspect there ukraine is collecting transit fees for the russian gas flowing through its territory how reliant is your crane on this money. well ukraine you can see every little bit helps that's $3000000000.00 in transit fees now the relations the economic relations have decreased and ukraine has managed to decrease its dependence on russian gas but obviously what they're looking towards is what will happen when north north stream 2 goes on on stream in 2020 and both sides are jockeying here now we also have in the background sanctions that the u.s. congress has said that they will impose on companies do

their peoples as well china is turning to gas in part to deal with their pollution and for russia's gazprom it's a welcome opportunity to reduce its reliance on europe as well as the china pipeline the russian state owned company is working on 2 other major projects north stream 2 connecting russia with germany is almost complete and in january the turkish stream pipeline via the black sea will begin supplying gas to southern europe from the black sea to black friday madness we know now it's cyber monday that's today and expectations are high for yet another record breaking 24 hours of online sales in the u.s. but since digital deals are now spreading all around the globe there are warnings about the excesses of consumerism and even the pope. francis' story in advent in vatican city in jubilant fashion this year the start of the christian countdown to christmas happened to coincide with the now traditional festive shopping frenzy of black friday weekend and this time both came with a papal plea for restraint. who. did brothers and sisters you consumerism is a virus that affects the faith th

annual natural gas consumption comes from russia via ukraine it's expected that gazprom will transit at least 65000000000 cubic meters of natural gas by ukraine next year and at least $40000000000.00 per year until 2024 and kiev more than $7000000000.00 in transit fees a major source of income for the country. and i'll just some of the other global business stories making news. the outgoing bank of england governor mark carney has said he wants climate action in the world of finance to match that in other fields in an interview to compare the climate crisis to a financial crisis in that it requires a strong and cross party action conny is due to become the united nations special envoy for climate change next year. german strength less being 2019 revenue for the last 12 months has slipped 2 and a half percent to just over $85000000.00 picked elitist and while the market for non alcoholic group is growing is can't make up for the lost revenue with regular brews brew reese are optimistic with 2020 though partially thanks to the football euro cup which usually comes with a high of consum

greece filed in germany the existing north stream one pipeline it gives russia's state owned company gazprom the ability to explore 110000000000 cubic meters of gas to europe per year and gas from says it will pay ukraine $2900000000.00 to settle a legal route over its gas exports that runs through the north stream one pipeline gas transit agreement was mediated by the european union and announced in principle him but on friday well under the 5 year agreement ukraine is expected to withdraw all outstanding legal claims that were previously made against gazprom. so for more on this i'm joined from washington by doug bandow who's a senior fellow at the cato institute a libertarian think tank and he previously worked as a special assistant to president ronald reagan so the russian reaction to this was fairly predictable could be expected germany has condemned the move chancellor angela merkel isn't happy with how could this how could these u.s. sanctions impact the relationship between washington and ballen. well they're going to make their relationship much more difficult you know germany fran

it's peak the state's energy giant gazprom will supply up to forty billion cubic meters of gas to china every year. as beijing is seeking to move away from coal in an effort to fight t wins a small. . with its strategic position and its giant natural gas reserves rushes supply now stretches further to its east as it remains a key provider. so european countries to its west gas from plans to launch two more pipelines that's a by pass ukraine to increase supply to germany and turkey. the move that spots concerns from the united states who fear russia could use europe's reliance on its energy to exert political pressure. russian authorities say they expect to turn the valve on the first pipe line by the middle of next year. except us president donald trump says he plans to reinstate terrace against brazil and argentina covering steel and aluminum imports. the unexpected announcement came via twitter the us president saying that cacalled brazil andnd argentina have been presiding ovever a massive devaluation of currencies. just not good for our farmers. to countries had been exempted from u

pipelines which go through poland or ukraine itself line no problem but if russia is an energy giant gazprom wants to diversify its way to deliver the fuel to deliver what it sells to european countries through pipelines modern pop lines like north stream or north stream to which almost been complete that's a disaster they say that would get europe hooked on. gas needled that's what they call it so let's just listen to how a u.s. senator who's behind the sanctions bill once put it. this pipeline if completed. would make europe even more dependent on russian energy would generate billions of dollars for putin billions of dollars that would fund the russian military aggression. so we learned that now the u.s. senate has approved a 2020 national defense authorization act which includes a bill which penalizes the companies that are involved in the construction of the pipeline but by far when we're talking about the north these are not only russian companies there are a lot of german companies and that's a direct route for russian natural gas to germany because if we think about it indeed many co

friday under the 5 year agreement ukraine is expected to withdraw all outstanding legal claims against gazprom west african leaders have ended a summit in nigeria's capital of the after increasing cross border security concerns leaders from the 15 member economic community of west african states have discussed fund raising a support fight against increasing violent attacks in the sahil the vast and remote area of the southern side as it spans many borders and it's difficult to police against the rise of several different on groups including some which are affiliated to iso and al qaeda i might address reports now from. the $56.00 ordinary summit over a course was anything but ordinary these are particularly difficult times for the region as attacks by armed groups of escalated in recent months. the rising violence in the hell in other parts of west africa double aid to the speeches. nigeria's president whose country has had to deal with the threat from boko haram for the past 10 years he says closer cooperation is needed along with more international support terrorism remains the major threat

like germany is the one who's hurt the most out of this deal i mean russia feels the economic with gazprom but overall germany is the one who's hurt because they don't get the cheap natural gas they needed they don't get the natural gas a woman again this is an abuse of sanctions so let's go deeper on this and other energy to bring you back and richard wolffe host of the economic update so richard let's be clear about what's happening here sanctions again as i said they're typically used at least that's what we're told right to deter bad behavior by governments that's clearly not what this is russia is not forcing germany to purchase natural gas and again germany is actively lobbying against this action by the u.s. and on top of all of that as brit pointed out this is part of a national defense bill what say you. well i think this is remarkable because it's a kind of tectonic shift a major shift the republican party and let's remember that what mr trump is the leader of now has traditionally been the against the government interfering in the economy the government is not supposed to pick w

greece filed in germany with the existing allstream one pipeline it gives russia's state owned company gazprom people 80 to explore 110000000000 cubic meters of gas to europe per year. well earlier i spoke to doug bandow a senior fellow at the cato institute who works as a special assistant to president ronald reagan he said the sanctions are only going to make relations more fraught between trump and his european allies germany france britain and others are already upset with american policy towards iran the same things that are being applied that affect european companies you know europeans have tired of the united states imposing through its financial system sanctions on europeans this is going to add to that you know to have the united states announce the germany is making a bad decision and therefore cannot be allowed to make it i'm afraid it's going to affect cooperation on issues of china issues of iran in the middle east and others as europeans you know basically want to resist this administration evermore and gas from says that it will pay ukraine $2900000000.00 to settle a legal rout

the state run energy giant gazprom and ukraine have a finalized a deal to continue europe for the next. . five years. the agreement should avert. an winter supply crisis ukraine remains the main export route for russian gas to western europe. europe for the alan higgins from coutts is still with us. you have long been a lover of russian assets. it has performed the best globally in 2019 on a total return basis in dollar terms. currency, second-best worldwide. is it time to take profits? alan: it could be. russia has always been a cheap market. what got us interested, so stepping back a bit. probably one of the low points, 2015-2016. i went on an adam smith institute visit to moscow. i was one of the people there. sometimes, it pays to be eight contrarian investor -- a contrarian investor. we bought dollar bonds and russian equities because it was a ridiculously cheap. it is less so today but it is still a market. plus, it is an oil plate. part of the -- play. part of the reason it has performed well this year is the oil correlation. performance can be eased out, especially when we talk

you will pay more they gazprom for consumers, but on the other hand, that would be good news for producers. you get more of an offset, particularly in the u.s. case. scarlet: andrew hollenhorst of citi is staying with us. we are keeping an eye on u.s. futures with just under three hours to go before the start of u.s. trading. it looks like the dow, s&p, and nasdaq build on record highs. the nasdaq is closing above 9000 yesterday for the first time ever. big names, including microsoft, amazon, apple gaining in the premarket. this is uber surveillance. -- "bloomberg surveillance." this is bloomberg. ♪ francine: we cannot finish the week without a brexit update, or finish the decade without a brexit update. while boris johnson wants to get a deal by the end of 2020, the european commission president called it optimistic. she said the transition period may need to be extended beyond the end of 2020 in an interview with the french newspaper. be uk's financial city might and will be an important bargaining chip for the eu, according to a reporter at the times london. let's take a quick look at