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In 2015, Russia and Pakistan reached an intergovernmental agreement to build a North-South pipeline. The North-South pipeline is expected to have an annual capacity of at least 12.4 billion cubic meters of gas.
Russia and Pakistan have decided to rename the planned north-south gas pipeline and have reached a new agreement on how the shares of the project will be distributed. Protocol on amendments In a bilateral agreement.
A document published on the official Internet portal of Russian legal information on Monday stipulates that Russian investors have a 26% share of what is now known as Pakistan’s stream pipeline.
According to the protocol, an assortment of Russian companies, including the Eurasian Pipeline Consortium and pipe metallurgy companies, will participate in the project.
Islamabad retains control of Pakistan’s stream pipeline, along with a joint special purpose committee to resolve project-related issues. The Russian side then has the decisive right to choose a contractor and equipment supplier in line with the Protocol.
Nothing was said about when the construction of the pipeline would begin. But at the end of last year Pakistani Prime Minister’s adviser Nadim Babar told Bloomberg The process is scheduled to begin in July 2021.
The Ministers of Energy of Russia and Pakistan signed an intergovernmental agreement to build a pipeline in October 2015. The 683 mile (1099 km) Karachi-Lahore pipeline is expected to cost approximately $ 2 billion and has a capacity of up to 12.4 per year. Billions of cubic meters of gas.
The decision to rename the project was made when Russia tried to put it together. Construction of Nord Stream 2A $ 10.5 billion gas pipeline project between Russia’s energy giant Gazprom and several major Western European energy companies.
When the pipeline is complete, it will double the annual gas capacity of 55 billion cubic meters of the existing Nord Stream network.
© Sputnik / Nord Stream 2
Nord Stream 2 pipeline construction
The United States is doing its best to thwart the project, slapping sanctions on Nord Stream 2, which Washington claims to increase Europe’s dependence on Russia’s gas.
Moscow rejects the claim that Nord Stream 2 is a purely economic project, urging the United States not to politicize it.
“Pakistan Stream”: A new twist on the Moscow-Islamabad agreement on gas pipelines
Source link “Pakistan Stream”: A new twist on the Moscow-Islamabad agreement on gas pipelines