MOSCOW—Russia and China’s largest energy companies on Friday announced a “breakthrough” deal paving the way for joint development of massive energy reserves in eastern Siberia, in a sign that Moscow is overcoming its fear of Chinese encroachment on Russia’s Far East. Their preliminary agreement illustrates how Moscow is increasingly looking to Asia for customers for its abundant energy reserves, and for funding to develop them. Russia’s needs tie in with expected long-term demand growth in oil and gas-deficient China and elsewhere in East and South Asia, and slowing energy consumption in many industrialized nations. Russian state oil giant OAO Rosneft ROSN.RS -1.63% Rosneft Russia: RTS $ 8.67 -0.14 -1.63% Jan. 21, 2013 6:27 pm Volume : 65,000 P/E Ratio 6.95 Market Cap $86.88 Billion Dividend Yield 2.96% Rev. per Employee N/A 10/18/13 Russia, China in Siberia Energ… More quote details and news » ROSN.RS in Your Value Your Change […]