ISLAMABAD: The Petroleum Division is likely to hold 8th session of Pakistan-Russia JCC on North South Gas Pipeline (NSGP) project by the end of current month.
In a report, the Petroleum Division stated that the JCC meeting with Russian delegation will execute the proposed amendments in the inter-governmental agreement (IGA) with Russia, shareholders agreement, and incorporation of Special Purpose Vehicle (SPV).
Precise timelines can be given on project activities, once the Russians nominated entity is on board and SPV is formed.
In November 2020, to finalise technical parameters of the project, technical team from Russia will arrive.
Nespak will submit its initial feasibility study and land data regarding first parcel of land in January 2021. The ISGS will verify the land data and start land acquisition process in January 2021.
As per the inter-governmental agreement between Pakistan and Russia, Inter State Gas Systems (Pvt) Ltd is the Pakistani nominated entity, which will implement the project.
Some media reports claim that construction of the pipeline project is revised. The work on proposed pipeline is likely to start in second quarter of 2021.
Earlier, it was decided to start work in first quarter of 2021.
Copyright Business Recorder, 2020
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