Agreement for pipeline inked with Russia
Pakistan and Russia signed the Head of Terms of shareholders agreement for the construction of a long pipeline extending from Port Qasim to Lahore.
The 1,100-km long pipeline has been inked at an estimated cost of $2.5-3 billion by the end of 2023.
Pakistan Petroleum Division Secretary Dr. Arshad Mahmood and Deputy Director of the Department of Foreign Economic Cooperation and Fuel Markets Development of the Russian Ministry of Energy Alexander Tolparov agreed over 74:26 percent shareholding in the special purpose vehicle (SPV) for the project.
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