ISLAMABAD, Nov 28 (DNA): A progress was made on the stream gas pipeline
project between Pakistan and Russia as the dates for the signing of
relevant agreements and documents have been finalised, citing sources.
Diplomatic sources said that Russia greenlighted important matters
related to the construction of a stream gas pipeline in Pakistan. The
dates for the signing of relevant documents and agreements have been
finalised for the stream gas pipeline project. The construction work of
the project will be commenced in 2022.
It was learnt that Pakistan and Russia have agreed on a dialogue draft
for making progress on the shareholders’ agreement. An agreement to
formally establish a company for pipeline’s construction will be signed
on January 31, 2022.
The signing of the legal documents will pave way for the establishment
of a special purpose company. Islamabad and Moscow will sign the stream
gas pipeline project’s shareholders’ agreement on February 15, said
sources.
Moreover, Pakistan and Russia have also made an agreement regarding the
provision of facilities for the construction of the stream gas pipeline.
The relevant agreement regarding the facilities will also be signed on
February 15.
The project aims to construct a 1,100-kilometre-long stream gas pipeline
at the cost of $2.5 billion to $3 billion that will enable the supply of
12.6 billion cubic meters of gas.
In July, Pakistan and Russia had signed an agreement for the
construction of a 1,100-kilometre-long stream gas pipeline from Karachi
to Lahore which will be completed by 2023.
The agreement of the Pakistan Stream Gas Pipeline Project had been
signed in a ceremony by secretary petroleum Arshad Mahmood and the
director of the Russian energy ministry. Energy Minister Hammad Azhar
and representatives of the Russian energy ministry had also attended the
ceremony.
Hammad Azhar had said that the gas pipeline project was facing a delay
since 2015 and both countries have signed an agreement for technical
cooperation. The project will be completed by 2023 at the cost of $2.5
billion.
He had said that the north-south stream gas pipeline project was an
important project while local companies will complete the work for
laying gas pipeline and the material will be imported from Russia.
Azhar had said that Oil and Gas Regulatory Authority (OGRA) will
finalise the tariff of the gas pipeline that will be used for gas supply
from the northern to the southern part of the country.
The energy minister had said that cooperation in the economic and energy
sectors will be increased through the latest agreement.
The head of the Russian delegation Alexander Tolparov had said that the
gas pipeline project will become a milestone for Pakistan in terms of
energy security. DNA
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