Pakistan and Russia have signed Terms for building a $ 2.5 billion Pakistan-Stream gas pipeline (PSGP).
The proposed diameter of the pipeline will be about 42-56 km, and the construction of a pipeline with a length of 1,100 km from the Port Qasim to Kasur is planned to be completed by 2023.
The agreement was signed by the Minister of Oil Dr. Arshad Mehmood and Deputy Director of the Department for Foreign Economic Cooperation and Development of the Fuel Market of Russia A.A. Tolparov.
Energy Minister Hammad Azhar led the Pakistani team that attended the ceremony with representatives from the Russian Ministry of Energy.
SAPM for Power and Petroleum Tabish Gauhar, who is against Russian participation in the project, was not present at the occasion.
Pakistan and Russia agreed to hold joint technical meetings within 30 days for designated authorities to exchange information on project implementation, define technical specifications and prepare a project roadmap after signing. The form and time of the event are agreed upon.
The proposed pipeline will be the main channel between the installation of new LNG terminals and Industrias in Pakistan. The pipeline tariff is set by the Oil and Gas Regulatory Authority (OGRA).
Russia is supplying raw materials for the pipeline, and Pakistani companies (SSGC, SNGP) are laying the pipeline. The Russian side will arrange financing for the currency components through supplier loans to cover imported components such as steel, consulting, pipelines and related goods and materials not available from Pakistan. The term of the agreement for the pipeline is 25-30 years.
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