05 Jun '18, 5am

Pakistan, Russia set to sign $10b offshore pipeline deal next week

In a major breakthrough, Pakistan and Russia are poised to sign a $10-billion offshore gas pipeline deal, a project planned by the latter to capture the energy market of Pakistan. Sources told The Express Tribune that the cabinet had approved the signing of the gas pipeline laying deal and Pakistan ambassador to Russia had been authorised to ink a memorandum of understanding with Moscow. The envoy is likely to ink the understanding in Moscow on Monday. Final cost of the project will be assessed following a feasibility study to be conducted by Russian energy giant Gazprom. Russia has nominated Public Joint Stock Company Gazprom for implementation of the project. Pakistan’s cabinet has also permitted the company to conduct the feasibility study at its own cost and risk. Inter State Gas Systems (ISGS) – a state-owned company of Pakistan established to handle gas import projec...

Full article: https://defence.pk/pdf/threads/pakistan-russia-set-to-sig...

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