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Fourth round of Pakistan-Russia joint technical committee ends successfully

Both sides tweak shareholders agreement of Stream Gas Pipeline Project

SAMAA | - Posted: Oct 28, 2021 | Last Updated: 1 month ago
SAMAA |
Posted: Oct 28, 2021 | Last Updated: 1 month ago

Photo: File

Pakistan and Russia successfully concluded on Thursday the fourth Russia-Pakistan joint technical committee meeting in Islamabad.

Both sides discussed the draft shareholders agreement of the Pakistan Stream Gas Pipeline Project.

The Pakistan side’s technical committee was headed by Secretary Petroleum Division Dr Arshad Mahmood.

The Russian Technical Committee was headed by the CEO of the Russian-nominated entity Vladimir Shcherbatykh along with other senior officials.

Having signed the heads of terms in July this year, both sides held in-depth discussions covering major issues pertaining to the shareholders’ agreement in a cordial and congenial environment and developed consensus on key issues.

The Russian side arranged a meeting with the financial advisers.

The two parties exchanged their views on global best practices for financing similar infrastructure projects, their experience in Asian and global markets. The two parties agreed to continue working on the draft agreement during next week.

The Pak Stream Gas Pipeline project is the flagship project of Pakistan and Russia marked by mutual goodwill, friendly and amicable relations.

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