Pakistan and Russia pledge to boost energy cooperation and increase investment
ISLAMABAD: Pakistan and Russia on Friday, January 20, agreed to enhance energy cooperation, enhance energy trade and expand investment in energy infrastructure on strategic and favorable trade terms.
They reached this understanding after the eighth meeting of the Pakistan-Russia Intergovernmental Commission on Trade, Economic, Scientific, and Technical Cooperation (IGC) held in Islamabad. It was chaired by Nikolai Shulgin, Minister of Energy of the Russian Federation, and Ayaz Sadiq, Federal Minister of Economy of Pakistan. The session was also attended by high-level delegates, including ministers and officials from both parties.
Russia, Pakistan discuss ways to boost energy sector cooperation
The Russian side was invited to potential projects of Pakistan’s federal and provincial governments, including under the PPP mode, and asked Russian businessmen to explore the possibilities.
All outstanding issues regarding the exchange of information on “certificates of origin” using electronic verification systems have been resolved. The plan is to aim for the completion of the above protocols by the end of May 2023.
The two sides agreed to appoint focal persons to strengthen cooperation and discuss connectivity and logistics issues in Central and South Asia.
The talks were held during a series of meetings between Russian and Pakistani energy ministers and other government officials over the past two days in Pakistan’s capital Islamabad, said a statement from the Prime Minister’s Office.
MOSCOW/ISLAMABAD, Feb 23 (Reuters) – Pakistani Prime Minister Imran Khan on Wednesday heads to Moscow for talks with President Vladimir Putin on issues including economic cooperation and a long-delayed gas pipeline vital to the south Asian country’s economy. read more
The Pakistan Stream gas project, also known as the North-South gas pipeline, is to be built in collaboration with Russian companies.
“Both countries are eager to launch the project at the earliest,” Pakistan’s energy ministry spokesman told Reuters on Wednesday ahead of Khan’s two-day visit.
In a letter sent to Petroleum Division secretary on February 4, a copy of which is available with The Express Tribune, Ministry of Foreign Affairs Director General Europe-2 Malik Muhammad Farooq referred Memorandum of Understanding (MoU) on implementing offshore gas pipeline project between Pakistan’s designated entity ISGS and Russian energy giant Gazprom.
The Ministry of Foreign Affairs stated that it does not support signing of the agreement either in the presence of Prime Minister Imran or at the PM Office as the same is a commercial agreement between two commercial entities, said Farooq, adding that it would be appropriate if an alternative venue is selected.