Russia signed a second energy deal with China on Sunday in a move aimed at lessening its dependence on European business partners. Thought to be worth roughly $400 billion, it makes China the nation's largest client for natural gas. Gazprom (MCX:GAZP) and China National Petroleum signed the deal less than six months after agreeing to their first deal. Gazprom has confirmed that it will send 30 billion cubic meters of gas a year under the new agreement. "Gazprom goes on boosting the cooperation with its Chinese partners. Power of Siberia, the world's largest project for gas supplies via the eastern route is well underway. Today the Framework Agreement has been signed for gas supplies via the western route. This legally binding document creates the necessary prerequisites for signing a gas purchase and sale agreement within this top-priority project," said Alexey Miller, chairman of Gazprom's management committee, in a statement posted on the company's website. The deal gives China about a fifth of the gas it will need by the end of the decade, reports Bloomberg. Under the first deal reached between the two powerhouses Russia will send 38 billion cubic meters a year post-2018. Market impact When the first deal was announced, market participants thought it would help establish a benchmark for global prices. As the news of the second deal hit the market today, analysts were quick to jump on its short-term effects on the industry. Gordon Kwan, head of commodity research at Nomura Holdings, told The Wall Street Journal that he believes the deal to be worth roughly $284 billion and a good deal for China.