ISLAMABAD: A progress was made on the stream gas pipeline project between Pakistan and Russia as the dates for the signing of relevant agreements and documents have been finalised, citing sources, ARY News reported on Sunday.
Diplomatic sources told ARY News that Russia greenlighted important matters related to the construction of a stream gas pipeline in Pakistan. The dates for the signing of relevant documents and agreements have been finalised for the stream gas pipeline project. The construction work of the project will be commenced in 2022.
It was learnt that Pakistan and Russia have agreed on a dialogue draft for making progress on the shareholders’ agreement. An agreement to formally establish a company for pipeline’s construction will be signed on January 31, 2022.The signing of the legal documents will pave way for the establishment of a special purpose company. Islamabad and Moscow will sign the stream gas pipeline project’s shareholders’ agreement on February 15, said sources.
Officials pointed out that there could not be any benefit to building an LNG pipeline because there isn’t any LNG accessible for Pakistan right now. They also mentioned that the second LNG terminal is now running at a lower capacity because there isn’t any LNG available on the global market.
Despite the state-owned company Pakistan LNG Limited’s (PLL) best efforts, no one had shown interest in signing an LNG agreement.
The lack of easy access to LNG has made winter difficult for consumers. Customers will now receive LPG cylinders thanks to a program launched by state minister for petroleum Musadik Malik. The rapid emergence of the LPG illicit market, however, did not benefit users.
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