PHOTO: FILE
ISLAMABAD: Pakistan and Russia signed an agreement on Friday to build a gas pipeline stretching hundreds of kilometres from Karachi on the Arabian Sea to the eastern city of Lahore.
Russian Energy Minister Alexander Novak and Petroleum Minister Shahid Khaqan Abbasi signed the agreement at a ceremony witnessed by Prime Minister Nawaz Sharif and broadcast live.
Read: LNG pipeline, terminal: Govt to decide on Chinese firm’s bid in a month
Officials said the North-South gas pipeline project would be built by Russian company RT Global Resources – a part of Russian state corporation Rostec.
The 1,100-kilometre pipeline, with a capacity of 12.4 billion cubic metres per year, will connect liquefied natural gas (LNG) terminals in Karachi with those in Lahore.
Read: IP gas pipeline: Russia to know next week if they are in or out
Russia is to invest about $2 billion in the pipeline and its first phase is expected to be completed by December 2017, a senior government official told AFP.
Russia has long been the largest supplier of weaponry to Pakistan’s nuclear-armed arch rival India, which is the world’s top arms buyer. But now Moscow appears to be pivoting towards Islamabad as New Delhi becomes closer allies with Washington.
Russia’s ITAR-TASS news agency reported in June that the country had lifted its embargo on arms supplies to Pakistan and was holding talks on supplying Islamabad with combat helicopters.
PM Nawaz at the time invited Russian companies to invest in Pakistan, particularly in the energy sector, and benefit from the business-friendly policies of the government.
The South Asian state is desperate for solutions to a long-running power crisis that has sapped economic growth and left its 200 million inhabitants deeply frustrated by incessant electricity cuts.
Good news
hope that it come to fruition too Recommend
Can there be any project for Karachi? Everything for Lahore…. Recommend
Healthy relations with China and Russia will compel USA to offer Pakistan high-tech equipment. Pak-Russia relations will make this region more prosperous and ultimately world’s biggest poverty will feel that it’s merely world’s biggest poverty.Recommend
Well, this mega project originates from Karachi’s Port Qasim and transports RLNG into SNGPL’s system, for up-country distribution !Recommend
Great News, this would mean an end to gas load shedding. Let’s hope it’s completed in the specified timeRecommend
Great work PMLN.Continue on the hard work and we will vote in 2018 for you.Recommend
mere a paper workRecommend
Once we can eradicate terrorism, corruption and have an effective revenue collection system we will become economically prosperous with more and more foreign investment coming. Considering country’s mega problems since Partition we need to remain in positive mode with enough patience to see a rising Pakistan. Recommend
@ PAKISTANI
please stop taking every thing as pro punjab……this project is for all pakistan starting from on corner Karchi to other Lahore.Recommend
It’s a warning for citizens to never vote for a capitalist, industrialist or businessman. Upon coming to power s/he will swarm the upper echelons with their greedy and self serving billionaires, who only aim is to expand their own business empire, at the cost of cheaper and affordable utilities aimed for public. All Nawaz friends want to own all Pak lifelines, Russian made Karachi Steel Mill to PIA, Banks, Shipping, Railway and what not. In the end it’s the voters who will be blamed not the leader who’s family ran away with poor nation’s billion and trillions. They put him there. He would not have robbed the citizens without their help, would he?Recommend
So who bid for this project? What was the price of the winning bid? Is the deal reasonable? These are the basic questions that ET and other Pakistani journalist should be asking. Why do Pakistanis have to rely on French news articles for important Pakistani issues?Recommend
More burnol for Indians. Heck none of them has even post yet :PRecommend
Good work PMLn. The only party working for Pakistan. Recommend
Might be a good idea to land a long term LNG contract before you lock yourself into a 25 year pipeline commitment. Cart before the horse.Recommend
Pipe dream version 6.0?Recommend