ISLAMABAD: Pakistan on Wednesday signed an agreement with Russia foroffshore oil and gas exploration activities, besides laying a pipeline tosupply gas to the country from the Middle East through the sea-link.
Managing Director Inter State Gas Systems Limited (ISGSL) of Pakistan MobinSaulat and Deputy Chairman Gazprom International of Russia Vitaly A.Markelov signed an inter-corporate agreement, a Petroleum Division pressrelease said.
Minister for Petroleum Ghulam Sarwar Khan witnessed the signing ceremonybetween the two companies.
Appreciating the expanding trajectory of bilateral relations between Russiaand Pakistan, the Minister welcomed the Gazprom’s interest in off-shore gaspipeline project and termed it a manifestation of multifaceted cooperationbetween the two countries.
“This project envisages transporting of gas molecules from Gazprom’ssources in the Middle East onwards to Pakistan with a possibility inextending it further to South Asian countries.
The pipeline will follow an integrated approach including other ancillaryprojects such as underground gas storage, desalination and other powerprojects,” it added.
Read Top Stories
Under the agreement, Pakistan would import some 500 million to 1 billioncubic feet gas per day from Russia, which would be transported via sea link.
The pipeline construction is expected to be completed in three to fouryears.
The Russian side thanked Pakistan for the facilitation being extended inpreparing necessary groundwork for the project, renewing the commitment tofurther enhance the existing energy cooperation between the two countries.
