ISLAMABAD, February 7: Russia has come up with an integrated investment package of $14 billion for the energy sector in Pakistan.
During a recent visit of the Russian delegation, headed by Gazprom Management Committee Deputy Chairman Vitaly A Markelov, the Russian side pledged an investment of $14 billion in offshore gas pipeline project, North South Pipeline Project and underground gas storages in Pakistan.
The officials said that they would invest around $10 billion in offshore gas pipeline project, $2.5 billion in the North South Pipeline Project and the remaining on building underground storages in Pakistan. The Russian companies would build gas pipeline from Karachi to Lahore to transport imported gas for meeting the needs of the gas-starved province. Recently, the government faced a severe gas crisis, which can be prevented by underground storages, said an official. The storages would help store imported gas allowing meeting rising gas demand at any time, particularly in winters, he added.
Meanwhile, Pakistan and Russian state run entities on Wednesday signed inter corporate agreement to conduct a feasibility study of the $10-billion offshore pipeline project. Under this project, Russian company, Gazprom, will conduct feasibility steady to build offshore pipeline from Iran to Pakistan. – Agencies
