Inter Corporate Agreement has been signed between ISGS, Pakistan and Gazprom, Russia

Islamabad, February 06, 2019 :- Mr. Mobin Sauat, Managing Director, Inter State Gas Systems, Pakistan and Mr. Vitaly. A. Markelov of Gazprom signed an Inter Corporate Agreement (between companies) on Wednesday at Petroleum Division. A Russian delegation headed by Mr. Vitaly A. Markelov, Deputy Chairman of the Management committee, PJSC, ‘Gazprom’ International visited Petroleum Division. Federal Minister for Petroleum Division, Ghulam Sarwar Khan appreciated the expanding trajectory of bilateral relations between Russia and Pakistan. Mr. Khan welcomed Gazprom’s interest in Off-Shore Gas Pipeline project and termed it a manifestation of multifaceted cooperation between both countries.

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 would follow an integrated approach including other ancillary projects such as Under Ground Gas storage, desalination and other power projects. Pakistan will import some 500 million to 1 billion cubic foot of gas from Russia daily, which would be transported via sea link, the agreement stipulates. The pipeline construction is expected to be completed in three to four years.

The Russian side thanked their Pakistani counterparts for the facilitation being extended in preparing necessary groundwork for the project and renewed their commitment to deepening energy cooperation between both sectors. The Russian side invited the Federal Minister to visit Russia at mutually convenient dates, which the Minister gladly accepted.

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