Russia’s Rostec to build oil, gas infrastructure for Pakistan from 2015

Dec 10, 2014 12:00 AM

Corporation Rostec's subsidiary will construct pipelines and terminals for the regasification of liquefied natural gas in Pakistan. The country has considerable energy shortages as the potential demand for natural gas is twice as high as supply.

A subsidiary of Russian state technologies corporation Rostec will begin the construction of oil and gas infrastructure for Pakistan in 2015, the company's press service reported.

The partnership includes the participation of Rostec's subsidiary, RT Global Resources, in constructing gas pipelines and terminals for the regasification of liquefied natural gas (LNG) in Pakistan, according to the statement.

The total cost of the projects is estimated at $3 billion, which is to be invested within the next three years, Rostec said.

"Our [Rosteс members] companies have the necessary terms of reference and experience implementing major infrastructure projects. That is why, the collaboration will be beneficial for both parties [Russia and Pakistan] and will serve to bolster partner relations," Rostec's CEO Sergei Chemezov was quoted as saying.

 

This decision to collaborate was made by representatives of RT Global Resources and the Pakistani Inter State Gas Systems (ISGS) during the third session of the Russian-Pakistani Intergovernmental Commission on cooperation in Moscow in late November, the statement added.

Pakistan has considerable energy shortages as the potential demand for natural gas is twice as high as supply, according to Rostec.

It is the second large-scale project in the oil and gas sphere for the Rostec enterprise this year. In July, RT Global Resources, together with Russia's VTB Capital investment bank and energy company Tatneft, was included in the short list of bidders for the construction of Uganda's first oil refinery.

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