ISLAMABAD: Russia is ready to execute the Pakistan-Iran gas pipeline project, ignoring the US sanctions on Iran, a Russian minister has revealed in a meeting with Pakistan’s petroleum minister in Islamabad.
This will be done in view of the new Russian policy to look towards South Asia.To this effect, Gazprom, a state-owned Russian company or one of its subsidiaries will soon make a formal contact with the Government of Pakistan to execute the Pak-Iran gas pipeline project.
This message has been clearly conveyed by a Russian delegation led by Yury Sentyurin, Deputy Minister of Energy, at a meeting with the Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi, here on Wednesday, a top official who was part of the meeting told The News.
The Russians have also decided to play a role in accomplishing the TAPI gas line project and want to become part of a consortium which is to execute the project.Apart from it, Moscow has also clearly indicated to Islamabad that it wants the electricity trade project (CASA-1,000) to be extended to Russia as it is rich in electricity and is currently exporting power to Mongolia, China and Europe.
The official said that Russia has also sought a role in developing coal-based projects at Gadani, arguing that it has the best expertise in the world to make such coal based projects.Additionally, the Russian delegation also offered its services to install power projects based on the lignite coal of Thar.
“In the meeting, the visiting team also expressed its willingness to install a 600MW coal based project at Jamshoro,” the official said, adding that both sides have decided to hold another meeting some time in November at the Joint Working Level to workout a roadmap for future cooperation in the energy sector.
A press release says the Russian delegation led by Yury Sentyurin, Deputy Minister of Energy, expressed the Russian intentions to invest in the energy sector of Pakistan.Abbasi, while talking to the members of the delegation, said Pakistan has huge potential of investment in the energy sector, especially in the oil and gas sector. He welcomed the Russians’ desire for investment in oil and gas exploration and expressed the hope that this cooperation will help a great deal in coping with the energy shortages in the country.
The Russian delegation also had a meeting with the Pakistani delegation led by the Minister of State for Petroleum and Natural Resources, Jam Kamal Khan, who assured the Russian delegates that Pakistan encourages foreign investment on equality basis, and a level playing field will be provided to all companies whether public limited or private.