ISLAMABAD — Russia plans to invest $14 billion in Pakistan energy sectorwhich also includes a $10 billion project for laying offshore pipeline fortransfer of gas from Iran to Pakistan, local media reported.
During a recent visit of the Russian delegation, headed by GazpromManagement Committee Deputy Chairman Vitaly A Markelov, the Russian sidepledged an investment of $14 billion in offshore gas pipeline project,North South Pipeline Project and underground gas storages in Pakistan.
The Russian companies would build gas pipeline from Karachi to Lahore totransport imported gas for meeting the needs of the gas-starved province.
Meanwhile, Pakistan and Russian state run entities have signed intercorporate agreement to conduct a feasibility study of the $10 billionoffshore pipeline project.
Under this project, Russian company, Gazprom, will conduct feasibilitysteady to build offshore pipeline for gas transfer from Iran to Pakistan.
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The pipeline construction is expected to be completed in three to fouryears. Inter State Gas Systems (ISGS) Managing Director Mobin Saulat andMarkelov signed the agreement in the Petroleum Division.
Russia holds huge gas deposits in Iran and has offered Pakistan and Indiagas exports by laying an offshore pipeline that will pass through GwadarPort.
