Pakistan, Russia sign IGA protocol

KARACHI: Pakistan’s Ambassador to the Russian Federation, Shafqat Ali Khan signed the Protocol to the Intergovernmental Agreement (IGA) on Friday along with Russian Minister for Energy Nikolai Shulginov, in Moscow.

As per a Ministry of Energy statement, the IGA has been updated as a Protocol to reflect the utilisation of GIDC and continued partnership with Russia to build the project. This has happened after successful negotiations between Pakistan’s Ministry of Energy (Petroleum Division) and Russian Ministry of Energy.

Pakistan Stream Gas Pipeline (SPV) is to be set up within 60 days of this signing to implement the project. It has been renamed as Pakistan Stream Gas Pipeline Project.

Pakistan-Russia IGA on North South Gas pipeline was signed between both countries in 2015 but was not implemented. The project has been delayed since 2015 with no headway.

This flagship project would enhance bilateral cooperation in the hydrocarbon sector between both countries, uplift technology, and create employment opportunities for local companies in Pakistan.