Pakistan and Russia signed an preliminary agreement for the North South Gas Pipeline NSGPP project in 2015 however developments had failed to materialize to start, largely due to fee disagreements and American sanctions towards Russia.
Now, the two countries will soon sign an amended MoU on the same project which is expected to start later this year.
Russia will soon sign an amended Inter-Governmental Agreement (IGA) with Pakistan for the construction of the flagship North-South Gas Pipeline (NSGPP).
As per the amended agreement that is subject to the terms and conditions set forth by both countries, the pipeline will stretch 1,100 km from Punjab to Karachi’s shoreline.
The revised IGA will permit Pakistan to essentially have “the main shareholding with 74 p.c takes in the pipeline of 1,122 kilometers from Karachi (Port Qasim) to Kasur (Punjab), and Russia will have 26 p.c equity”.
A report by Bloomberg signifies that Pakistan may have the majority share between 51 and 74 p.c, and Russia will own the remaining.