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News // Russia

Russia and Pakistan set to sign $10 billion offshore pipeline deal this week

04 June 2018 , 17:22Neftegaz.RU862

Islamabad, June 4 - Neftegaz.RU. 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 to the Pakistanis 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 MoU with Moscow. Final cost of the project will be assessed following a feasibility study to be conducted by Gazprom.

 

Russia has nominated 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 projects and is already working on gas pipeline schemes like TAPI, has been nominated by Pakistan to execute the offshore pipeline project along with Gazprom.

 

According to a government official, after signing the MoU for the offshore pipeline, work on the feasibility study will begin in an attempt to assess viability of the project.

 

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