Russia and Pakistan have signed an agreement to construct the North-South gas pipeline stretching from Lahore to Karachi.
Diagnosis:
- The 1,100 km pipeline with a capacity of 12.4 billion cubic metre per annum will connect Karachi’s liquefied natural gas (LNG) terminals with those in Lahore.
- The North-South gas pipeline project would be built by Russian company RT Global Resources, a part of Russian state corporation Roste and project will be implemented in compliance with BOOT model (Build Own Operate Transfer).
- The construction of pipeline will bring economic cooperation between Pakistan and Russia "to a new level "and would open up a new market and opportunities for Russian companies in Pakistan's energy sector.
- Pakistan and Russia's cooperation is deepening in other sector too.In August, Pakistan and Russia signed a landmark defence deal for the sale of four Mi-35 ‘Hind E’ attack helicopters to Pakistan and are currently in talks for the delivery of Sukhoi Su-35 fighter jets.
- This inclination of Russia to Pakistan is appear to be the securing of its economic and strategic interest in the backdrop of Ukraine crisis,western sanction on Russia.
- Now Moscow appears to be setting up its foot in Asia as India is also diversifying its market(Defence import from Israel and USA).
Source:The Hindu
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