Why does this matter? China gets more than 50% discount on LNG imports from Russia is a massive sign of Russian desperation and China putting the screws to them.
Russia isn’t doing this because they really like China. This shows they have no leverage or options at this point. The big picture of money coming in for Russia greatly affects their warfighting capability. This type of agreement is worth paying attention to.
This comes up often - these are not rational nation states with collective incentives, strong institutions and a predictable set of rules. These are cruel gangster kings consumed by older notions, like legacy and glory for The Leader. Russia and China are not like other nation states that play by predictable rules and will restrain themselves for diplomatic reasons. They do what they can get away with, because that is the nature of power and pain. Those are what matters in their world - diplomacy is a trick of the weak to keep down the strong.
Xi and Putin are two of the wealthiest people on the planet. Why? Because that’s the point of power in their realms. And they had to lie, backstab, kill and steal to get there. They’re very good at it.