Business

Pakistan, Russia ink $10bn offshore gas pipeline deal

Pakistani and Russian officials on Thursday signed a historic $10-billion offshore gas pipeline agreement in Moscow.
Inter State Gas Systems (ISGS), a state-owned Pakistani company, will work alongside Russia’s energy giant Gazprom, to execute the multibillion-dollar project.
According to the agreement, Pakistan will import some 500 million to 1 billion cubic foot of gas from Russia daily, which would be transported via sea link.
The pipeline construction is expected to be completed in three to four years.