ISLAMABAD, 30 November 2021, (TON): According to sources “progress has been made on the stream gas pipeline project between Pakistan and Russia, with deadlines for the signing of essential agreements and paperwork finalised.”

According to diplomatic sources, Russia has approved key aspects of the construction of a stream gas pipeline in Pakistan. The dates for signing key documents and agreements for the stream gas pipeline project have been set. Construction on the project is expected to begin in 2022.

 It was learnt that Pakistan and Russia have agreed on a dialogue draft for making progress on the shareholders’ agreement. An agreement to formally establish a company for pipeline’s construction will be signed on January 31, 2022.

Sources said “the signing of the legal documents will pave way for the establishment of a special purpose company. Islamabad and Moscow will sign the stream gas pipeline project’s shareholders’ agreement on February 15.”

In addition, Pakistan and Russia have reached an agreement on the provision of infrastructure for the construction of the Stream gas pipeline. On February 15, the applicable agreement covering the facilities will be signed as well.

The project seeks to build a 1,100-kilometre-long stream gas pipeline that will supply 12.6 billion cubic metres of gas at a cost of $2.5 billion to $3 billion.

In July, Pakistan and Russia had signed an agreement for the construction of a 1,100-kilometre-long stream gas pipeline from Karachi to Lahore which will be completed by 2023.