06:14 GMT +324 July 2019
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    Sections of gas pipes are seen at the start of construction on a pipeline to transfer natural gas to Pakistan.

    Russia-Pakistan Construction of Gas Pipeline Shifted for Year Over Disagreement

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    St. Petersburg International Economic Forum 2017 (183)
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    The construction of the North-South gas pipeline in Pakistan is shifted for not less then 12 months over the disagreements between the parties on the tariff for gas pumping, Sergey Chemezov, CEO of Russia's state military equipment manufacturer Rostec said Saturday.

    ST. PETERSBURG (Sputnik) — The intergovernmental agreement on the gas pipeline construction was signed by Russia and Pakistan in 2015.

    The project is implemented by RT-Global Resources, part of Rostec corporation.

    "The planning is being conducted, it is almost finished. Basically the problem now is that we cannot agree on the tariff [for gas pumping]. The offered tariff does not allow returning money invested in the project. We are trying to convince our colleagues that it is necessary to raise the tariff. I hope that it will be resolved somehow. But the term which had been agreed earlier will of course shift. I believe, for this year that is for sure. In 2019 more likely," Chemezov said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

    The 21st annual SPIEF is a major global platform for business representatives where crucial economic issues are discussed. SPIEF is held between Thursday and Saturday. Sputnik News Agency is the official media partner of the forum.

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    St. Petersburg International Economic Forum 2017 (183)

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    gas pipeline, St. Petersburg International Economic Forum (SPIEF) 2017, Sergei Chemezov, Russia, Pakistan
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