July 15, 2021
ISLAMABAD: Pakistan will not extend to Russia the sovereign guarantee against 26 percent shares in Pakistan Stream Gas Pipeline Project (PSGP). However, it has extended assurances to Russia which are enshrined in the amended Inter-Government Agreement (IGA). Pakistan will be having 74 percent shareholding and Russia 26 percent.
This was the essence of the third day of talks between Pakistan and Russian excerpts on the project of paramount importance. However, the Oil and Gas Regulatory Authority (OGRA) will determine the tariff of the pipeline. The regulator will include in the tariff the capacity charge and usage charge to bear the fixed and variable expenses. Both sides agreed to form a Special Purpose Company (SPC) to run the Pakistan Stream Gas Pipeline. The CEO and MD of SPC would be from Pakistan, a senior official who was part of the talks told The News.
Third day of talks on PSGP: No sovereign guarantee for profit, Pakistan tells Russia
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Pakistan, Russia cut deal on pipeline project
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July 13, 2021
ISLAMABAD: A 12-member Russian delegation headed by A A Tolparov, Deputy Director of Department of Foreign Economic Cooperation and Fuel Markets Development, on Monday arrived in Islamabad for the critical make or break talks on Pakistan Stream Gas Pipeline Project (PSGPP). Both sides held preliminary talks in the afternoon. However from today (Tuesday) they will start formal talks on shareholders’ agreement and Heads of Terms till Thursday. The “Pakistan side headed by Secretary Petroleum Dr Arshad Mehmood, informed the Russian team in the preliminary session that Islamabad is committed to Pakistan Stream Gas Pipeline Project (PSGPP) and wants Russia to be on board. About the alternate pipeline, the Pakistan side clarified to the Russians that it’s negative publicity, saying obviously there are always alternatives available, but that doesn’t mean Islamabad does not favour Pakistan Stream Gas Pipeline,” one of the officials who attended the meeting told The