Pakistan is planning to finalize a Russian-built gas pipeline despite international pressure to financially isolate Moscow. The Financial Times has given this report. Pakistan’s Finance Minister Shaukat Tarin has said that a deal with Russia to build the billion-dollar Pakistan Stream Pipeline is almost complete. It is also known as the North-South Project.
Project worth more than $2 billion
Tarin has pointed out that we need a gas pipeline to move LNG from south to north. In the next two or three years it will become almost necessary for us. Either there is an option for us or we will go ahead with this deal but this is by far the best option.
Tarin has told that after Imran Khan’s visit to Moscow, Russian officials will soon visit Islamabad to finalize the deal for the Pakistan Stream Pipeline. The pipeline, to be built by a group of Russian companies, is estimated to cost more than $2 billion.
Is Pakistan on Russia’s side on Ukraine issue?
Pakistan, an ally of Western countries during the Cold War and post 2001 ‘War on Terror’, has refused to condemn Russia’s invasion of Ukraine despite public pressure including from the European Union, the UK. Many countries including the European Union, Britain, Australia had appealed to Pakistan to condemn Russia in the United Nations General Assembly vote, but Pakistan refrained from voting. Pakistan PM Imran Khan said he “regrets” the conflict but wants to remain neutral.
The closeness between Russia and Pakistan has increased
Islamabad has come closer to Moscow in recent years. Pakistani officials are looking for energy security ways and believe that jeopardizing relations with Russia would be too costly. Let us tell you that Pakistan produces gas but in recent years it has also started importing it from the Gulf as the demand for energy is increasing. Tarin has said that high prices after US sanctions on Russian oil and gas imports will hit Pakistan very badly.