Thursday, 23 January 2020

Pakistan, Russia ink $10bn gas pipeline deal

(Photo by Sean Gallup/Getty Images/File)

MOSCOW: Pakistani and Russian officials signed a historic $10-billion offshore gas pipeline agreement in Moscow.

Inter State Gas Systems (ISGS), a state-owned Pakistani company, will work alongside Russia’s energy giant Gazprom, to execute the multibillion-dollar project.

According to the agreement, Pakistan will import some 500 million to 1 billion cubic foot of gas from Russia daily, which would be transported via a sea link. The pipeline construction is expected to be completed in three to four years.

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