Pakistan, Russia agree to complete ‘energy cooperation plan’ by March


Islamabad, Moscow conclude delegation-level talks; agree to finalise agreement n Develop consensus to strengthen cooperation in various development sectors including energy, communication and transport.

ISLAMABAD     –     Pakistan and Russia Friday agreed to strengthen energy cooperation, enhance energy trade and broaden energy infrastructure investment based on strategic and favorable commercial terms.

The understanding was reached at the 8th session of Pakistan-Russia Intergovernmental Commission in Islamabad. It was co-chaired by Minister for Economic Affairs Sardar Ayaz Sadiq and the Russian Energy Minister Nikolay Shulginov.

Later reading out a joint statement alongside the Russian Energy Minister, Sardar Ayaz Sadiq said both sides have agreed to work on a comprehensive plan for energy cooperation which will form the foundation for future work and it is to be finalized in 2023.

It was agreed that after consensus on technical specifications, the oil and gas trade transactions will be structured in a way that mutually benefits both the countries. This process will be completed in March this year.

It was agreed that Pakistan Stream Gas Pipeline should be considered in terms of comprehensive infrastructure and economically viable project for sustainable gas infrastructure development ensuring affordable gas supplies.

Sardar Ayaz Sadiq said Pakistan and Russia reaffirmed their commitment to a strong and cooperative economic relationship, reiterating that such a relationship contributes to the economic well-being of the two countries as well as the region.

Working under the express guidance of Prime Minister Shahbaz Sharif and Russian President Vladimir Putin, both sides took the opportunity to reaffirm their commitment to a strong and comprehensive economic relationship.  They reiterated that such a relationship contributes to the economic well-being of the two countries, as well as the region. Both the sides proceeded from the discussions and decisions of the seventh IGC and carried the process forward, as well as explored additional avenues of cooperation.

Both the sides agreed to further strengthen and enhance collaboration in the fields of trade and investment, energy, communication and transport, higher education, industry, railways, finance and banking sector, customs, agriculture, science and technology, and information technology. Both sides observed and noted positive prospects for implementable and concrete projects in above-mentioned sectors of economy with a huge potential for the socio-economic development of both countries.

The Commission agreed that the relevant ministries and departments from both sides will vigorously follow up to exploit this potential for common prosperity. Both sides have agreed to strengthen energy cooperation, enhance energy trade and broaden energy infrastructure investment based on strategic and favourable commercial terms.

They also agreed to work on a “Comprehensive Gas Infrastructure Plan for Energy Cooperation”, which would form the foundation for future work and is to be completed in 2023. Both sides reassured commitment to undertake Pakstream gas pipeline project as one of the pillars of the “Comprehensive Gas Infrastructure Plan”

.They also reached an agreement in principal on supply of Russian crude oil and oil products to Pakistan, with technical details to be finalized in March 2023 at the latest. Both sides agreed that Pakistan Stream Gas Pipeline Project should be considered in terms of a comprehensive infrastructure which is economically viable for sustainable gas infrastructure development ensuring affordable gas supplies.

Russian side was invited towards potential projects of the federal and provincial governments of Pakistan, including in PPP mode and requested the Russian businessmen to explore these possibilities.



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