Moscow: Russian Energy Minister Alexander Novak says that Russia-Pakistan agreement on the North-South gas pipeline project is ready for signing.
Russia and Pakistan could sign an agreement on the North-South gas pipeline project in late September, Novak said, Press TV reported.
“This document is ready for signing, and I will make a visit in the near future so that we can sign this deal on building a pipeline. I think this will be in the end of September,” Russia’s Sputnik news agency has quoted Novak as saying in an interview with Russia Today.
Russian Energy Ministry and Pakistan’s Ministry of Petroleum and Natural Resources will supervise and coordinate the implementation of the project, the Russian minister added.
The project includes the construction of liquefied natural gas terminals as well as the 683-mile North-South pipeline, stretching from Pakistan’s southern port city of Karachi to Lahore in the country’s northeast.
The inter-governmental agreement between Russian and Pakistan is valid for 25 years and subject to automatic extension for five years.
The project provides for a maximum use of Russian technologies, materials, equipment and products and engagement of Russian research, design and building organizations.
The Pakistani side undertakes to grant the rights to use land plots necessary for the project implementation and carry out research route laying works.
A previous report indicated that RT Global Resources, a subsidiary of Rostec, a Russian state corporation, will handle the construction of oil and liquefied natural gas pipelines and terminals in Pakistan. Rostec estimated that the total cost of the project was around $3 billion.