Afghanistan decides to quit TAPI project – Pakistan oil and gas news – part 2

Afghanistan decides to quit TAPI project – Pakistan oil and gas news – part 2

An official of the Petroleum Ministry said that under the GSPA Pakistan was likely to pay 70 percent of crude oil price in international market.

The federal government has also decided to avail the offer of financial and technical support made by Russia for laying 781 kms long gas infrastructure of $1.5 billion Iran-Pakistan (IP) gas pipeline project. In this regard a high-level delegation would visit
Moscow on April 2, 2012, said Chaudhary. A high-level delegation would leave for Moscow on April 2nd to negotiate with Russian company Gazprom for financial and technical assistance for the billion-dollar IP gas pipeline project.

He said that in result of successful negotiation between Islamabad and Moscow, Russian company would facilitate with three services including engineering design, construction and financing for laying 781 kms long IP gas pipeline project.

After Chinese bank Industrial and Commercial Bank of China (ICBC) quit financing the IP gas pipeline project due to Washington’s pressure, Pakistan is now seeking to avail the Russian offer.

On March 14, Pakistan’s Finance Ministry spokesman Naveed Iqbal said ICBC, a state-owned Chinese bank, which had agreed to finance the Pakistani section of IP gas pipeline, is no longer interested in the project.

Sources in the Ministry of Petroleum and Natural Resources revealed that the decision to negotiate a deal with Russia came in a recent meeting of the sub-committee formed by the Economic Coordination Committee (ECC).

Short URL: https://www.newspakistan.pk/?p=17559

Posted by Ahmed Tariq on Mar 29 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry