A new economic outlook revealed that Russia expects to sell gas to China at a steeply discounted rate over the next three years, far below the price European buyers will pay, according to a Bloomberg report.

The report, citing an outlook through 2026 from Prime Minister Mikhail Mishustin, showed that Moscow will sell pipeline natural gas to China at an average price of $271.6 per 1,000 cubic meters next year.

Buyers in Europe and Turkey, on the other hand, will face an average price of $481.7.