Pakistan and Russia have agreed to build a 1,100-kilometer-long stream gas pipeline from Karachi to Lahore, costing $2.5 billion and expected to be finished by 2023.
In a ceremony, Secretary of Petroleum Arshad Mahmood and the Director of the Russian Energy Ministry signed the Pakistan Stream Gas Pipeline Project agreement. The ceremony was also attended by Energy Minister Hammad Azhar and delegates from the Russian Ministry of Energy.
According to Hammad Azhar, the gas pipeline project has been delayed since 2015, and both countries have signed a technical cooperation agreement. The project, which will cost $2.5 billion, will be completed by 2023.
Azhar went on to say that the north-south gas pipeline project was crucial, and that local firms will finish the process of laying the pipeline, with materials imported from Russia. He also said that the Oil and Gas Regulatory Authority (OGRA) will finalize the tariff for the gas pipeline that will be used to supply gas from the country’s northern to southern regions.
