KARACHI – Pakistan, and Russia concluded the fourth Russia-Pakistan JointTechnical Committee meeting in the country’s federal capital, reaffirmingtheir commitment towards the strategic project and finalising theshareholders’ agreement in November.
A joint statement issued by the Petroleum Division cited “Both sides havereaffirmed their unequivocal commitment towards the strategic project andresolved to finalise the SHA during the month of November as agreedearlier”.
“The parties agreed to continue working on the draft SHA during the nextweek and further agreed to resume negotiations in Islamabad from the weekstarting November 8, 2021,” it further added.
CEO of the Russian Nominated Entity, Vladimir Shcherbatykh, and the othersenior officials led the Russian Technical Committee. The Russiandignitaries also commended the South Asian country for hosting the meetingin a cordial atmosphere.
Secretary Petroleum Division Dr. Arshad Mahmood led the Pakistan sidetechnical committee while the crucial meeting was also attended by seniorofficials of the AG Office, Ministry of Foreign Affairs, Ministry of Lawand Justice, Ministry of Finance, the SECP, the OGRA, ISGS, GHPL, and otherofficers from the Petroleum Division.
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During the crucial meet, Pak-Russian officials exchanged their views on theglobal practices for financing similar infrastructure projects, theirexperience in the Asian and global markets.
Pak Stream Gas Pipeline is the flagship project in bilateral relationsbetween Pakistan and Russia that have been marked by friendly relations. A1,100-kilometer pipeline would be laid from Karachi to Lahore to transport1.6 billion cubic feet of gas per day.
According to the understanding between the two sides, the pipeline willhave a 56-inch diameter to cater to Pakistan’s energy requirements for thenext 3 to 4 decades.
