The May 21 Sino-Russian gas deal has been long expected, but it took Chinese and Russian negotiators more than a decade to overcome their differences on the issue, which reflecting diverging price expectations. In the end, the parties stuck to their winning formula of China’s providing Russian firms with the money they need in advance to develop new energy supplies and transport them to China through guaranteed long-term contracts. The United States has minimal influence over both countries’ energy policies and will need to work with regional partners, including China, to encourage price competition, competition, and transparency.