AGL 40.95 Increased By ▲ 0.75 (1.87%)
AIRLINK 129.30 Increased By ▲ 0.19 (0.15%)
BOP 6.34 Decreased By ▼ -0.26 (-3.94%)
CNERGY 4.02 Decreased By ▼ -0.01 (-0.25%)
DCL 8.42 Decreased By ▼ -0.03 (-0.36%)
DFML 42.55 Increased By ▲ 1.30 (3.15%)
DGKC 87.10 Increased By ▲ 0.10 (0.11%)
FCCL 33.58 Increased By ▲ 0.23 (0.69%)
FFBL 65.65 Decreased By ▼ -0.25 (-0.38%)
FFL 10.65 Increased By ▲ 0.11 (1.04%)
HUBC 112.65 Increased By ▲ 1.95 (1.76%)
HUMNL 15.70 Increased By ▲ 0.47 (3.09%)
KEL 4.82 Increased By ▲ 0.04 (0.84%)
KOSM 7.90 Increased By ▲ 0.07 (0.89%)
MLCF 42.10 Increased By ▲ 0.20 (0.48%)
NBP 60.50 No Change ▼ 0.00 (0%)
OGDC 184.10 Increased By ▲ 1.30 (0.71%)
PAEL 25.55 Increased By ▲ 0.19 (0.75%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 146.21 Decreased By ▼ -1.60 (-1.08%)
PRL 24.53 Decreased By ▼ -0.03 (-0.12%)
PTC 16.30 Increased By ▲ 0.06 (0.37%)
SEARL 70.65 Increased By ▲ 0.15 (0.21%)
TELE 7.36 Increased By ▲ 0.06 (0.82%)
TOMCL 36.10 Decreased By ▼ -0.20 (-0.55%)
TPLP 8.16 Increased By ▲ 0.31 (3.95%)
TREET 15.20 Decreased By ▼ -0.10 (-0.65%)
TRG 51.49 Decreased By ▼ -0.21 (-0.41%)
UNITY 27.50 Increased By ▲ 0.15 (0.55%)
WTL 1.28 Increased By ▲ 0.05 (4.07%)
BR100 9,861 Increased By 18.8 (0.19%)
BR30 30,127 Increased By 90.1 (0.3%)
KSE100 92,823 Increased By 302.3 (0.33%)
KSE30 28,829 Increased By 42.3 (0.15%)

Pakistan and Russia signed a memorandum of understanding (MoU) to implement US $10 billion offshore gas pipeline agreement here at Petroleum Division on Wednesday. In this respect, Managing Director Inter State Gas Systems Pakistan, Mobin Saulat, and Vitaly A Markelov of Gazprom signed an inter-corporate agreement (between companies).
The Russian delegation headed by Vitaly A Markelov, Deputy Chairman of the Management Committee, PJSC, Gazprom International, visited the Petroleum Division. Federal Minister for Petroleum Division, Ghulam Sarwar Khan appreciated the expanding trajectory of bilateral relations between Russia and Pakistan.
He welcomed Gazprom''s interest in offshore gas pipeline project and termed it a manifestation of multifaceted cooperation between both the countries. This project envisages transporting of gas molecules from Gazprom''s sources in the Middle East onwards to Pakistan with a possibility in extending it further to South Asian countries.
The pipeline would follow an integrated approach including other ancillary projects such as under ground gas storage, desalination and other power projects.
Pakistan will import some 500 million to 1 billion cubic feet of gas from Russia daily, which would be transported via sea link, the agreement stipulates. The pipeline construction is expected to be completed in three to four years.
The Russian side thanked their Pakistani counterparts for the facilitation being extended in preparing necessary groundwork for the project and renewed their commitment to deepening energy cooperation between both sectors.
The Russian side invited the federal minister to visit Russia at mutually convenient dates.

Copyright Business Recorder, 2019

Comments

Comments are closed.