Islamabad: Pakistan and Russia have signed a landmark USD 10 billion offshore gas pipeline agreement in Moscow, according to a news report. Inter State Gas System (ISGS) a state-owned Pakistani company for gas imports will work with Russia’s Gazprom on the project.
Under the agreement, Pakistan will import 500 million to 1 billion cubic foot of gas daily from Russia transported through sea link. The construction of the pipeline will be expected completed in three to four years.
Gazprom will prepare the feasibility report on its own expense for the project. CPEC is particularly needed for the duty-free special economic zone.
