Pak, Russia sign offshore gas exploration contract

Pakistan and Russia have signed an agreement to conduct offshore oil and gas exploration activities, a news source reported. The contract calls for laying a pipeline network for supplying gas to Pakistan from Russia’s Middle East resources through the Arabian Sea link.

The deal was signed by Inter-State Gas Systems Limited of Pakistan Managing Director Mobin Saulat and Gazprom International of Russia Deputy Director Vitaly A. Markelov. Minister for Petroleum Ghulam Sarwar Khan was also present at the signing ceremony.
The minister welcomed Gazprom’s interest in the offshore gas pipeline project and appreciated the expanding ties between the two countries. He termed the contract a manifestation of multifaceted cooperation between the two sides.

The project envisages transporting gas from Gazprom’s sources in the Middle East to Pakistan. There is also the possibility of extending the network further to several other South Asian countries. The pipeline will follow an integrated approach, and include other ancillary initiatives such as underground gas storage, desalination, and power projects.

WEB DESK

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