Pakistan, Russia Pledge to execute Gas Stream Pipeline
Pakistan and Russia on Thursday agreed to follow laid down timelines to successfully implement the Pakistan Gas Stream Pipeline Project. Pak Russia gas pipeline is a strategic project between two countries.
The Pak-Russia gas pipeline has made significant headway at the conclusion of the first technical session parleys between the respective sides.
Two sides held a technical session in Islamabad from 24th-26th August 2021. This is in furtherance to the Heads of Terms agreement that was finalized during the last meeting.
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The Pakistan Stream Gas Pipeline Project is a reflection of the expanding bilateral relations between Pakistan and the Russian Federation. It shall act as a catalyst in elevating the entire gamut of relations between both countries.
The Russian delegation, led by Mr. Vladimir I. Shcherbatykh, CEO, and other representatives of Pakstream LLC, a Russian nominated entity under the Inter-Governmental Agreement (IGA) signed between Pakistan and Russian Federation in May 2021.
Dr. Arshad Mahmood, Secretary, Ministry of Energy (Petroleum Division), Syed Zikria Ali Shah, Managing Director, ISGS, (Pakistan side nominated entity under IGA), Directorate General (Gas), Directorate General (Liquid Gas), Sui Northern Gas Pipeline Company Limited and Sui Southern Gas Company Limited represented Pakistan.
- Both delegations appraised each other on the progress achieved so far on the project. The parties decided to expedite technical studies and surveys. Both sides agreed to further expedite planning stage works including field surveys, reconnaissance surveys, and studies. The parties also deliberated on pipeline technical specifications, design parameters, and transport of RLNG from Karachi to Kasur. Adequate provisions would be planned to connect the pipeline with Underground Gas Storages Projects in Sindh (A proposal under active evaluation at MOE-PD) and the TAPI Gas Pipeline crossing point in Multan. Both sides will continue to exchange notes, relevant data, and information on design documents.
The respective parties have resolved to set and follow laid down timelines to successfully implement the Pakistan Gas Stream Pipeline Project.
Both the delegations reaffirmed their commitment to the project ensuring the highest standards of technical, quality parameters, and maximum utilization of Pakistani resources.
This shall also act as a forerunner of the growth of the SUI companies in terms of enhancement of technical, operational, and training capacities.
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The parties agreed in principle to finalize the Shareholder Agreement of the project at the earliest to incorporate the Project Company in Pakistan by Pakistan and Russian parties.
They had already agreed that Pakistan shall have a majority shareholding. Both sides agreed that the project shall act as a harbinger of constructive and meaningful cooperation between Pakistan and Russia and elevate this flourishing relationship.
