Daily Times

Islamabad: Pakistan and Russia are set to sign a 10 billion dollar offshore gas pipeline deal today (Wednesday) in Moscow.

According to the sources, Russia has nominated a Public Joint Stock Company Gazprom to conduct a study regarding the feasibility of the project.

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A Pakistani delegation of Petroleum Division has been sent to the Russian capital after the signing of a Memorandum of Understanding between the two Asan states.

Inter State Gas Systems (ISGS), a state-owned company of Pakistan and is established to handle gas import projects. ISGS is already working on gas pipeline schemes like Turkmenistan Afghanistan Pakistan India (Tapi) gas pipeline which is likely to connect South and Central Asia and it will start in March next year.

ISGS is now designated by Pakistan for executing the pipeline project along with Russia’s energy giant Gazprom.

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According to the reports, Pakistani delegation will leave for Moscow on Wednesday to sign the multibillion-dollar deal.

According to the agreement, Pakistan is expected to buy some 500 million to 1 billion cubic foot from Russia daily.

The estimated time for the construction of the underwater pipeline is three to four years.