Pakistan, Russia sign agreement for 1,100-km gas pipeline project
- By Web Desk -
- Jul 16, 2021
ISLAMABAD: Pakistan and Russia have signed an agreement for the construction of a 1,100-kilometre-long stream gas pipeline from Karachi to Lahore which will be completed by 2023at the cost of $2.5 billion, ARY News reported on Thursday.
The agreement of the Pakistan Stream Gas Pipeline Project was 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 have also attended the ceremony.
Hammad Azhar said that the gas pipeline project was facing a delay since 2015 and both countries have signed an agreement for technical cooperation. The project will be completed by 2023 at the cost of $2.5 billion.
He added that the north-south stream gas pipeline project was an important project while local companies will complete the work for laying gas pipeline and the material will be imported from Russia.
Azhar said that Oil and Gas Regulatory Authority (OGRA) will finalise the tariff of the gas pipeline that will be used for gas supply from the northern to the southern part of the country.
The energy minister said that cooperation in the economic and energy sectors will be increased through the latest agreement.
The head of the Russian delegation Alexander Tolparov said that the gas pipeline project will become a milestone for Pakistan in terms of energy security.