Friday 4 June 2021
Pakistan Stream Gasoduc Construction to Finalize in 2025
4 forum postsST. PETESRBURG (TASS) — Completion of the Pakistan Stream gas pipeline construction is expected in 2025 in case of stable financing of the project, Energy Minister Nikolai Shulginov said on the sidelines of the St. Petersburg International Economic Forum on Friday.
Nikolai Shulginov and Pakistani Ambassador to Russia Shafqat Ali Khan signed a document enabling to start practical implementation of the Pakistan Stream gas pipeline construction project on May 28, 2021.
“In case of stable financing we expect the project to be fully implemented in 2025”, Nikolai Shulginov, adding that the Russian side will be responsible for construction of the gas pipeline, while the Pakistani side for gas sources and construction of the re-gasification terminal.
The intergovernmental agreement on construction of the 1,100-km-long North-South gas pipeline with the capacity of 12.4 bln m³ of gas per year was signed by Russia and Pakistan in October 2015. Its purpose is gas transportation from Karachi to Kasur. The project name was changed to Pakistan Stream along with its partnership structure against the risk of U.S. sanctions on Russian companies. The sides were to sign commercial agreements in 2016, whereas it was planned to deliver the project by 2018. However, the project has been postponed for many reasons.
In early spring, it became known that RT Global Resources (part of the Rostec group) was terminating its participation in the project. In December 2019, the Pakistani state-owned company ISGSL, which specializes in strategic infrastructure projects in the gas industry, asked Russia to replace this company due to the sanctions risks. Zarubezhneft was named the new likely participant in the project. The company will be selected by the competent authority of the Russian side, which will establish the FSUE Center for Operational Services of the Ministry of Energy of the Russian Federation, Eurasian Pipeline Consortium LLC and the Pipe Metallurgical Company of businessman Dmitry Pumpyansky. Russian investors will receive at least 26% of the pipeline’s shares, while Pakistan will have a controlling stake of 74%.
Zafar Shah (5 June 2021, 07:33)
Russia supports Pakistan against India and Quad group in this way Pakistan Russia relations grows. God bless President Putin, he always helps his friends in need.
VISHAL Bhujang (5 June 2021, 12:18)
The Pakis are unable to build a simple gas pipeline. They don’t even have the money to do it. They have to give 26% to the Russians to build it for them. Poor country, no future at all
Aurangzeb (5 June 2021, 17:53)
From looting hospitals to ambulance drivers over charging patients. From medical staff looting dead bodies to local people harassing covid patients families. From politicians ignoring medical facility needs to people hoarding crucial medicines so that they can overcharge 10x times to patients in need. May ALLAH help muslims in India. As a Pakistani I feel so sorry to see my muslim brothers in the hands of unscrupulous hindus.
videsh (5 June 2021, 20:39)
Dumb Arangzeb. The British founded Pakistan for the sole purpose of keeping India on its toes. This legacy has continued to this day and that is why Pakistan enjoys the sympathy of the British.