25
Sunday
August 2019
6:24 AM IST
News Headlines
Former Finance Minister Arun Jaitley passes away        I find nets claustrophobic, prefer centre wicket for match simulation: Kohli        Rahane's 81 only saving grace in India 203 for 6 on day 1        No more dessert names, Google to officially call new OS 'Android 10'        Sensex, Nifty rebound on hopes of FPI tax rollback        Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi        Two Govt hospitals in Pak deny specialised ambulance facility to Sharif        UN, France raise concern over Amazon wildfires 'crisis'        INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter        Always said demonising Modi wrong: Singhvi        Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion        FM proposes measures to enhance fund flows for infra, housing projs        FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials        Vivek Oberoi to star in film on Balakot air strikes        It's better to get hit early and hard: Kohli on bouncers        Messi 'made me better player', says Ronaldo        Nirav Modi to appear via videolink for remand hearing in UK        Rupee slips 17 paise to 71.72 vs USD in early trade        US seeking balancing act in South Asia over Kashmir: Report        Pro-growth RBI minutes to cap yields; revives expectations for further policy easing        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
International News
Russia plans to invest USD 14 bn in Pakistan's energy sector
 
Islamabad, Feb 7 (PTI) Cash-strapped Pakistan is set to receive an integrated Russian investment package of USD 14 billion for the country's energy sector, including offshore gas pipeline and underground storage projects, a media report said Thursday.

A Russian delegation headed by Gazprom Management Committee Deputy Chairman Vitaly A Markelov pledged to make the investment during a recent visit to Pakistan, the Express Tribune reported.

The Russian companies would build a gas pipeline from Karachi to Lahore to transport imported gas for meeting the needs of the Punjab province.

Out of the USD14 billion, Russians would invest around USD 10 billion in an offshore gas pipeline project, USD 2.5 billion in the North-South pipeline project and the remaining on building underground storages in Pakistan, the report said.

Pakistan and Russian state-run entities on Wednesday signed inter corporate agreement to conduct a feasibility study of the USD10-billion offshore pipeline project.

The planned massive Russian investment in Pakistan is coming at a time when bilateral relations between Moscow and Islamabad were warming up.

Pakistan's ties with Russia have moved past the bitter Cold War hostilities and the chill in the US-Pakistan relations has further pushed the country towards Russia and China.

Under this project, Russian company, Gazprom, will conduct feasibility steady to build offshore pipeline from Iran to Pakistan, according to the report.

Pakistan's Minister for Petroleum Division, Ghulam Sarwar Khan, appreciated the expanding trajectory of bilateral relations between Russia and Pakistan and welcomed Gazprom's interest in off-shore gas pipeline project and termed it a manifestation of multifaceted cooperation between the two countries.

The pipeline construction is expected to be completed in three to four years.

Inter State Gas Systems (ISGS) Managing Director Mobin Saulat and Markelov signed the agreement.

Under the deal, Russia will export 500 million cubic feet per day (mmcfd) to one billion cubic feet per day gas to meet the growing demand of gas following industrialisation under the China-Pakistan Economic Corridor.

A feasibility study would be conducted by Gazprom at its own cost with no financial implications on Pakistan.

Russia holds huge gas deposits in Iran and has offered Pakistan and India gas exports by laying an offshore pipeline that will pass through the strategic Gwadar Port on the Arabian sea.

Russia has been a big gas exporter to the European Union countries and Turkey since long and despite US anger, the European bloc has continued to make imports to meet its domestic needs.

Moscow receives gas from Turkmenistan and then exports it to EU states. It has got and managed gas deposits in Iran as well and is looking to gain foothold in the Pakistani market, the report said.

Certain economic benefits such as transit fee would accrue to Pakistan if the project is implemented, the report said.

Pakistan will import some 500 million to 1 billion cubic feet of gas from Russia daily, which would be transported through sea link, the agreement says.

The pipeline would follow an integrated approach including other ancillary projects such as underground gas storage, desalination and other power projects.

Moreover, the project would bring Pakistan on the world map as the transit country for offshore gas pipelines, the report said.


Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi
Two Govt hospitals in Pak deny specialised ambulance facility to Sharif
UN, France raise concern over Amazon wildfires 'crisis'
US seeking balancing act in South Asia over Kashmir: Report
Pro-growth RBI minutes to cap yields; revives expectations for further policy easing
N Korea dismisses nuclear talks if US 'hostile military moves' continue
President Trump to discuss Kashmir with PM Modi at G7 summit in France
Pakistan submits compliance report to FATF
Aus to join US in Gulf maritime security mission: PM
Iran says foreign minister Zarif to visit Macron in France
Johnson Brexit letter offers no alternatives to Irish backstop: EU
Pakistan summons India's deputy High Commissioner for 4th time over 'ceasefire violations'
Jaishankar to visit Nepal to participate in Nepal-India Joint Commission
Pak Army chief Gen Bajwa gets 3-year extension; 'regional security environment' cited
Hong Kong protesters rally to show 'peaceful' credentials after chaos
Leaked UK memos warn of food, drug shortages in Brexit chaos
UK strips Jihadi Jack of his British dual nationality: Reports
Modi arrives in Bhutan on two-day visit
Hong Kong protest tensions heat up in Australia
Separatists vacate key offices in Yemen's Aden: Minister
ENTERTAINMENT NEWS
Vivek Oberoi to star in film on Balakot air strikes
 Mumbai: After portraying Prime Minister Narendra Modi in a biopic, Vivek Oberoi says he is set to pr  
Chris Pine to star in film about Richard Nixon lawyer John Dean
Amitabh Bachchan is my real life mentor: Chiranjeevi
It's challenging to reinvent constantly: Kriti Kharbanda
KERALA NEWS
Malayalam actor, film crew stranded in Himachal village
 Thiruvananthapuram: A 30-member film crew from Kerala, including award-winning actress Manju Warrier
Ex-Deputy Commandant of AR camp held in connection with constable's death
"More flights to Kerala from Gulf countries during Onam"
Flood in Kerala: CM conducts aerial survey
NATIONAL NEWS
INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter
 New Delhi: Congress leader and former union finance minister P Chidambaram was on Friday granted pro
Always said demonising Modi wrong: Singhvi
Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion
FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials
Untitled Page
Rashtra Deepika LTD
Copyright @ 2019 , Rashtra Deepika Ltd.