Prime Minister Imran Khan left for fly on Wednesday to push for the construction of a long overdue, multibillion dollar-dollar pipeline to be built in cooperation with Russian companies, an official She said.
The prime Minister Comes the trip to meet President Vladimir Putin and discuss issues including economic cooperation hours after a number of western nations hit Russia with new sanctions for his military distribution in set off of Eastern Ukraine.
“Both countries are eager to launch the project as soon as possible, ”the spokesman for the Pakistan energy ministry told Reuters in about the Pakistan Stream pipeline. He confirmed that Energy Minister Hammad Azhar is accompanying the Prime Minister on visit.
The Presidency of the Council of Ministers also confirmed that Azhar was accompanying the premier along with Foreign Minister Shah Mahmood Qureshi, Information Minister Fawad Chaudhry, Planning and Development Minister Asad Umar, Trade Advisor Abdul Razak Dawood, Security Advisor national Dr Moeed Yusuf and MNA Amir Mahmood Kiani.
In an interview ahead of during his trip, Prime Minister Imran had expressed concern about the situation in Ukraine and the possibility of new penalties and them effect on The nascent Islamabad collaboration with Fly.
It is not clear how the latest the sanctions will affect the project which would deliver liquefied natural gas (LNG) imported from Karachi to power installations in Punjab.
The project it’s important for Pakistan, in particular the power sector – as dependence of the country on Imported LNG is growing in the face of the decrease in indigenous gas supplies.
The pipeline project has already has been delayed because of previous sanctions.
“This north-south pipeline has suffered, one of the reasons … were the companies we were negotiating with transformed out that the United States had applied sanctions on them, “Prime Minister Imran told Russia Today on Tuesday.
“So the problem it was getting a company that wasn’t sanctioned, ”he said of the project.
Pakistan-Russia collaboration on tubing project:
In 2015, Russia and Pakistan agreed in principle a build a 1,100 km long pipeline to deliver LNG imported from Karachi a power installations in Punjab.
The oil pipeline designed the annual capacity is 12.4 billion cubic meters (bcm), with the possibility of being increased to 16bcm.
The cost it will require investment of between $ 1.5 billion, according to Russia, up to $ 3.5 billion, estimated by Pakistan, with 26 percent of it will be financed by Moscow and the remaining 74% by Islamabad.
The project it had to be launched in 2020, but Russia had to replace the initial participant after the company was hit by Western sanctions unrelated to Pakistan Stream project.
Currently the pipeline, a rare example of Russian participation without state-owned gas company Gazprom involves the Eurasian Pipeline Consortium, a pipe manufacturer in TMK steel, which produces gas pipelines in steel for the energy sector and Operational Service Center run by the Russian Ministry of Energy.
Russian shareholders expect to return their investments from the gas shipping fees.
Currently I am in feasibility studies course place on the project but there is no certain date set for the launch. According to Russo media relations, shareholders’ agreement for the Pakistani stream should be signed this month.
On May 28, 2021, Russian Energy Minister Nikolai Shulginov and the Ambassador of Pakistan in Moscow Shafqat Ali Khan signed an agreement on behalf of They countries to build the Pakistan Stream pipeline.
