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PM underlines need for int l community to remain engaged in Afghanistan
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CCOE reviews draft of Pakistan Oil Refinery Policy 2021
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Can Uzbekistan and Pakistan Help Stabilize Afghanistan?
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Pakistan Stream Gas Pipeline: Russia’s Key to South Asia?
Publication: Eurasia Daily Monitor Volume: 18 Issue: 123
(Source: Daily Times)
Russian Energy Minister Nikolai Shulginov and Pakistan’s ambassador to Moscow, Shafqat Ali Khan, signed a revised agreement on May 28 that initiates the construction of the planned Pakistan Stream Gas Pipeline (PSGP) (Minenergo.gov.ru, May 28). Formerly known as the North-South Gas Pipeline, this infrastructural mega-project (1,100 kilometers in length) is expected to cost up to $2.5 billion and should be completed by 2023. The pipeline will secure the delivery of 12.3 billion cubic meters (bcm) of natural gas per year from the liquefied natural gas (LNG) terminals in Karachi and Gwadar to the large north-central city of Lahore. Importantly, this project will be the first such large-scale economic initiative between Moscow and Islamabad undertaken since the mid-1970s.
Storm brewing against Pakistan Steam Gas Pipeline
July 28, 2021
ISLAMABAD: In a shocking development, Pakistan has asked Russia that it has no money to fully fund its 74 percent shareholding in the $3 billion project of Pakistan Steam Gas Pipeline (PSGP) and asked Moscow to raise debt financing up to $1.4 billion against its shareholding for the project raising eyebrows of many if the huge amount of Rs 295 billion ($1.83 billion) collected in the head of GIDC (gas infrastructure development cess) by Finance Ministry till August 2020 has been utilized by the government.
So much so that Pakistan also asked Russia to jack up its shareholding maximum up to 49 percent from 26 percent showing that Islamabad does not have the required amount to finance its own shareholding of 74 percent. This develops a strong impression if the government that collected over Rs385 billion has utilized the GIDC amount either in budget financing?.