Islamabad July 15 2021: Govt of Pakistan team led by Federal Minister Hammad Azhar and Russia have agreed upon & signed ‘Head of Terms’ for construction of “PakStream Gas Pipeline”. This will lead to a big progress in a project that has been suffering with delays since 2015.
Earlier in June 2021, the Russian Energy Minister Nikolai Shulginov stated that the completion of the North-South stream gas pipeline construction is expected by 2025 in case of stable financing of the project. If both countries reached a deal then the Russians will construct gas pipeline while Pakistani government is responsible for arranging gas along with building of a regasification terminal.
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Construction Activity To Generate Economic Activity Of USD14 Billion In Northern Pakistan
On May 28 2021, Pakistan and Russia signed the Protocol on the amendments to the Agreement on North-South Gas Pipeline Project in Moscow. Protocol was signed by H.E Ambassador Shafqat Ali Khan and the Russian Minister for Energy, H.E. Nikolay Shulginov.
As per the Protocol the Project has been renamed as “Pakistan Stream Gas Pipeline”. The pipeline will run from Karachi to Kasur for transportation of gas. The Project is a flagship strategic venture between Pakistan and Russia and will strengthen bilateral cooperation.
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Proton Local Commercial Production Faces More Delays
The intergovernmental agreement on construction of 1100-km long “Pakistan stream” (north-south) gas pipeline was was signed by Russia and Pakistan in October 2015. The line will have capacity of 12.4 billion cubic metres of gas per year. The two sides were to sign commercial agreements in 2016, whereas it was planned to deliver the project by 2018, but the project’s implementation has been rescheduled several times.
