ISLAMABAD – Russia has signed an agreement with Pakistan for offshore oil and gas exploration, Radio Pakistan reported on Thursday.
Managing Director Inter State Gas Systems Limited of Pakistan, Mobin Saulat and Deputy Chairman Gazprom International of Russia Vitaly A. Markelov signed the agreement in Islamabad.
Minister for Petroleum Ghulam Sarwar Khan witnessed the signing ceremony between the two companies.
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 will follow an integrated approach including other ancillary projects such as underground gas storage, desalination and other power projects.
Under the agreement, Pakistan would import some 500 million to 1 billion cubic feet gas per day from Russia, which would be transported via sea link.
The pipeline construction is expected to complete within four years.
Minister for Petroleum Ghulam Sarwar Khan on this occasion appreciated the expanding trajectory of bilateral relations between two countries.
