MOSCOW, Russia: Pakistan and Russia on Friday signed the intergovernmental agreement (IGA) to build the Pakistan Stream Gas Pipeline from Punjab’s Kasur area to Karachi’s Port Qasim at the cost of US$ 2.25 billion.
The IGA was signed in Moscow by Pakistan’s Ambassador to the Russian Federation Shafqat Mahmood and the Russian Minister for Energy Nikolai Shulginov.
The IGA has been updated as a protocol to reflect the utilization of gas infrastructure development cess (GIDC) and continued partnership with Russia to build the project.
This has happened after successful negotiations conducted between Pakistan’s Ministry of Energy (Petroleum Division) and the Russian Ministry of Energy
Pakistan Stream Gas Pipeline SPV will be set up within 60 days of this signing to implement the project.
It has been renamed as Pakistan Stream Gas Pipeline Project.
1/4 Pakistan and Russia signed the Protocol on the amendments to the Agreement on North-South Gas Pipeline Project in Moscow today. #PakistanStreamGasPipeline #northsouthgaspipeline #pakistanrussia @ForeignOfficePk @MID_RF @mfa_russia @RusEmbPakistan pic.twitter.com/M35aiRIvpj
— Pakistan Embassy Russia (@PakinRussia) May 28, 2021
The Pakistan-Russia IGA on the North-South Gas Pipeline Project (NSGPP) was signed between both Countries in 2015 but was not implemented. The project has been delayed since 2015 years with no headway.
It’s a flagship Pakistan-Russia energy project to enhance the bilateral cooperation in the hydrocarbon sector between both Countries and employment opportunities to Local Companies in Pakistan.
