Pakistan, Russia successfully conclude 4th RussiaPakistan Joint Technical Committee meeting

ISLAMABAD, Oct 29 (SABAH): Pakistan and Russia have successfully concluded the 4th RussiaPakistan Joint Technical Committee meeting in Islamabad.

The parties discussed the draft Shareholders Agreement of the Pakistan Stream Gas Pipeline Project. The Pakistan side technical committee was headed by Secretary Petroleum Division Dr. Arshad Mahmood.

The Russian Technical Committee was headed by the CEO of the Russian Nominated Entity Vladimir Shcherbatykh along with the other senior officials from the Russian side.

Having signed the Heads of Terms (HOT) in July this year, the parties held in depth discussions covering all major issues pertaining to the SHA in a cordial and congenial environment and developed consensus on key issues.

The Russian side arranged a meeting with the financial advisers.

The parties exchanged their views on the global best practices for financing similar infrastructure projects, their experience in the Asian and global markets. The Parties agreed to continue working on the draft SHA during the next week.

The Pak Stream Gas Pipeline project is the flagship project in bilateral relations between Pakistan and Russia that have been marked by mutual goodwill, friendly and amiable relations.