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Investments in Pakistan Stream construction seen at $1.5-2 bln — Russia’s Energy Ministry

The construction to become the 1,100-km-long North-South gas pipeline with the capacity of 12.4 bln cubic meters of gas per year

NOVOKUZNETSK /Kemerovo region/ June 1. /TASS/. Investments in the construction of the Pakistan Stream pipeline are estimated at $1.5-2 bln, Russian Deputy Energy Minister Anatoly Yanovsky told reporters on the sidelines of the Coal and Mining exhibition. He added that Russian companies could contribute 25% of this amount.

"[The total amount], I think it will be $1.5-2 billion <...>. Now they say that the Pakistani side has the funds to provide about 75% of financing for the construction of this gas pipeline. If it works out, Russian companies will take on the remaining 25%, if not, they will negotiate within themselves, since they are all participants in this project," Yanovsky said.

The intergovernmental agreement on the construction of the 1,100-km-long North-South gas pipeline with the capacity of 12.4 bln cubic meters of gas per year was signed by Russia and Pakistan in October 2015. The sides were to sign commercial agreements in 2016, whereas it was planned to deliver the project by 2018, though the project’s implementation has been rescheduled several times

On May 28, 2021, Russian Energy Minister Nikolai Shulginov and Pakistani Ambassador to Russia Shafqat Ali Khan signed a document allowing implementation work to commence on the Pakistan Stream gas pipeline construction project (earlier known as the North-South pipeline) in the near future, Russian Energy Ministry said on Friday.