Xingkun had a wish list for Russia, which included the need to have more trust and collaboration. He also said the China market has many energy sources and will be oversupplied in the next few years.
It would like a lower price, as well as the eastern Sino-Russian pipeline route to be prioritized and accelerated in development.
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"Russia wants to fast-track the western pipeline," said Matthew Sagers, head of Russian and Caspian Energy Research at IHS. He said it's a message to Europe that Gazprom has other markets to serve.
According to Charif Souki, CEO of Cheniere Energy, about 25 percent more LNG will hit the world market by 2020, and Cheniere will begin to export U.S. gas at the end of this year.
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Europe is also looking to diversify away from Gazprom's stronghold on the market.
"Germany and Europe don't want to put all their eggs in one basket, and we will try to get more independent from one supplier—Russia," said Holger Lösch, member of the executive board of BDI, an association of German corporations.
—By Patti Domm, executive news editor, CNBC.com