Pakistan and Russia signed Head of Terms Agreement for the construction of Pakistan Stream Gas Pipeline Project (PSGPP).
The agreement was signed here after three days talks here between Pakistan and Russia. From Pakistan side Secretary Petroleum Division Dr Arshad Mahmood inked the agreement while from the Russian side Deputy Director Department of Energy Alexander Layroop signed the documents.
The Karachi-to-Lahore pipeline, expected to cost some $2.5 billion, and will have an annual capacity of up to 12.4 billion cubic metres of gas. On the occasion, Minister for Energy Hammad Azhar said that that the project was facing delay since 2015 but now it is on track and will be completed by 2023. He said that the local companies will lay the pipeline while the material will be imported from Russia. Oil and Gas Regulatory Authority will determine the tariff for the Pipeline, he added. The pipeline will improve the supply of gas from North to South, he maintained.
Source: https://nation.com.pk
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