Staff Reporter Islamabad
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 on Sunday.
Diplomatic sources told Media that Russia greenlighted important matters related to the con-struction 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 pro-ject 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 Feb-ruary 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 agree-ment 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 pro-ject was facing a delay since 2015 and both coun-tries have signed an agreement for technical coop-eration. 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 compa-nies will complete the work for laying gas pipeline and the material will be imported from Russia.
Azhar had said that Oil and Gas Regulatory Author-ity (OGRA) will finalise the tariff of the gas pipe-line that will be used for gas supply from the north-ern to the southern part of the country.
