Pakistan and Russia have reaffirmed unequivocal commitment towards the strategic Pakistan Stream Gas Pipeline project and resolved to finalise the Shareholders’ Agreement (SHA) during the month of November, according to a report by the Express Tribune.
During the fourth Russia-Pakistan Joint Technical Committee meeting on Pak Stream Gas Pipeline, which concluded on Thursday, the two countries discussed the draft of Shareholders Agreement (SHA) of the scheme.
The Pakistan side was headed by Petroleum Secretary Dr Arshad Mahmood while the Russian Technical Committee was led by the CEO of Russian nominated entity Vladimir Shcherbatykh.
Having signed the Head of Terms (HOT) in July this year, the parties held in depth discussions covering all major issues pertaining to the SHA and developed consensus on key issues. The Russian side arranged a meeting with the financial advisers led by banks.
The two parties agreed to continue working on the draft SHA during the next week. They further reached a consensus to resume negotiations in Islamabad from the week beginning November 8, 2021.
