ISLAMABAD – Following a fresh round of successful dialogue between adelegation of Ministry of Energy Petroleum Division and Russian energyexperts in Moscow, Gazprom International is all set to start feasibilityfor laying $10 billion offshore gas pipeline.
Managing Director Inter State Gas Systems (Pvt.) Limited (ISGSL) MobinSaulat told APP that during the recently held meeting in Russia, “bothsides agreed and identified potential future areas of cooperation; agreeingto accelerate cooperation in the area of Energy with a special emphasis onoil and gas besides kick-starting the feasibility study for the $10 billionoff-shore gas pipeline.”
He said that the feasibility study would include preliminary, technical,financial parameters of the project including a gas pipeline route, gassupply volumes and information.
“We aim to prepare the study within 12 months,” he detailed.
He expressed that through the pipeline, the firm will supply the commodityto Pakistan from its Middle East fields, which would have great potentialof regional connectivity.
The MD termed it a major development as a result of sustained dialogue heldbetween energy experts of the two countries.
The project envisages transporting of gas molecules from Gazprom’s sourcesin the Middle East onwards to Pakistan with a possibility in extending itfurther to South Asian countries.
The pipeline would follow an integrated approach including other ancillaryprojects such as Under Ground Gas storage, desalination and other powerprojects.
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Relations between cold war foes, Russia and Pakistan have witnessed anupward trajectory in recent years in all spheres.
Both the countries have drawn closer to each other and relations have beenmarked with an increasing proximity and convergence on major issues.
Gazprom is making an entry in Pakistan at the time when a number ofprojects under China-Pakistan Economic Corridor (CPEC) are in full swingand Pakistan has emerged as a major point in the Belt and Road Initiative.
Saulat said “both the parties recognize that this will lead to mutuallybeneficial opportunities for implementation of joint business arising fromnatural gas transportation.”
The agreement would lead to establishment of a Joint Working Group whichwould review the project quarterly on an alternate basis in Pakistan andRussia, he added. – APP
