ISLAMABAD: Pakistan and Russia on Wednesday signed an inter-corporate agreement for offshore oil and gas exploration activities.
According to a petroleum division press release, Managing Director Inter State Gas Systems Limited (ISGSL) of Pakistan Mobin Saulat and Deputy Chairman Gazprom International of Russia Vitaly A. Markelov signed an agreement for offshore oil and gas exploration activities besides laying a pipeline to supply gas to the country from the Middle East through the sea-link.
Petroleum Minister Ghulam Sarwar Khan also witnessed the agreement signing ceremony between the two companies.
The petroleum minister appreciated the interest of Gazprom in off-shore gas pipeline project nad termed it a manifestation of multifaceted cooperation between Pakistan and Russia.
The pipeline will follow an integrated approach including other ancillary projects such as underground gas storage, desalination and other power projects,” it added.
Under the agreement, Pakistan would import some 500 million to 1 billion cubic feet gas per day from Russia, which would be transported via sea link.
The Russian side thanked Pakistan for the facilitation being extended in preparing necessary groundwork for the project, renewing the commitment to further enhance the existing energy cooperation between the two countries.