Russia's gas giant OAO Gazprom (GAZP.RS) and China National Petroleum Corp. (CNPC.YY) plan to sign a long-term contract to supply Russian gas to China by the end of the year, Gazprom said in a statement Wednesday.

"Gas supplies to China will be made without linking them to the prices of the U.S. spot market," Alexei Miller, chief executive officer of Gazprom said. 

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