http://news.sky.com/story/1266093/china-...orth-400bn
I think this deal as a lot of significance to it, and is good for both Russia and China securing energy for one and providing much needed income for the other.
But on the other side, Russia will have less and less interest in supplying energy to a shrinking European Continent and the threat of turning off the supply will do far less damage to Russia in the future than it would today. Hence the need for the UK and Europe in general to become more self sufficient with regards to energy generation.
Also the might of a combined Russia and China both politically and militarily must be a major concern for stability in the west. The US in particular must feel its global dominance taking a battering.