STAFF REPORT ISB: Pakistan and Russia consented to an arrangement to construct a gas pipeline extending several kilometers from Karachi on the Arabian Sea toward the eastern city of Lahore.

Russian Energy Minister Alexander Novak and Petroleum Minister Shahid Khaqan Abbasi consented to the arrangement at a functioning saw by Prime Minister Nawaz Sharif and telecast live.

Authorities said the North-South gas pipeline venture would be manufactured by Russian organization RT Global Resources – a some portion of Russian state company Rostec.

The 1,100-kilometer pipeline, with a limit of 12.4 billion cubic meters for every year, will interface condensed common gas (LNG) terminals in Karachi with those in Lahore.

Russia is to put about $2 billion in the pipeline and its first stage is required to be finished by December 2017, a senior government authority told AFP.

Russia has long been the biggest SUPPLIER of weaponry to Pakistans atomic outfitted most despised adversary India, which is the worlds top arms purchaser. Be that as it may, now Moscow has all the earmarks of being turning towards Islamabad as New Delhi turns out to be closer partners with Washington.

Russias ITAR-TASS news office reported in June that the country had lifted its ban on arms supplies to Pakistan and was holding chats on supplying Islamabad with battle helicopters. PM Nawaz at the time welcomed Russian organizations to put resources into Pakistan, especially in the vitality part, and profit by the business-accommodating arrangements of the services.

By Web Team

Technology Times Web team handles all matters relevant to website posting and management.