The Pakistan Stream Gas Pipeline Project has made significant headway at the end of the first technical session parleys between Pakistan and Russia.
The technical session was held in Islamabad between 24 and 26 August in furtherance of the Heads of Terms agreement that was finalized during the last meeting.
The Pakistan Stream Gas Pipeline Project is a reflection of the expanding bilateral relations between Pakistan and the Russian Federation and will catalyze the elevation of the entire gamut of relations between the countries.
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The Russian delegation, led by Vladimir I. Shcherbatykh, CEO and other representatives of Pakstream LLC, a Russian nominated entity under the Inter-Governmental Agreement (IGA) signed between Pakistan and the Russian Federation in May 2021.
The Pakistani side was represented by Dr. Arshad Mahmood, Secretary, Ministry of Energy (Petroleum Division), Syed Zikria Ali Shah, Managing Director, ISGS, (the Pakistan side nominated entity under IGA), Directorate General (Gas), Directorate General (Liquid Gas), Sui Northern Gas Pipeline Company Limited, and Sui Southern Gas Company Limited.
Both the delegations apprised each other of the progress of the project, decided to expedite technical studies and surveys, and agreed to expedite the planning stage works, including field surveys, reconnaissance surveys, and studies.
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The parties also deliberated on pipeline technical specifications, design parameters, and the transport of RLNG from Karachi to Kasur. Adequate provisions will be planned to connect the pipeline with the Underground Gas Storages Projects in Sindh (a proposal under active evaluation at the MOE-PD) and the TAPI Gas Pipeline crossing point in Multan.
Both sides will continue to exchange notes, relevant data, and information on design documents. They also resolved to set and follow prescribed timelines to successfully implement the Pakistan Gas Stream Pipeline Project, and reaffirmed their commitments to the project while ensuring the highest standards of technical, quality parameters, and the maximum utilization of Pakistani resources.
It will also be a forerunner of the growth of the SUI companies in terms of the enhancement of technical, operational, and training capacities.
The parties agreed in principle to finalize the Shareholder Agreement of the project at the earliest so that the Project Company may be incorporated in Pakistan by the Pakistani and Russian parties.
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It has already been agreed that Pakistan will have a majority shareholding, and both sides concurred that the project will be a harbinger of constructive and meaningful cooperation between Pakistan and Russia, and will elevate their flourishing relationship.
