Pakistan, Russia agree to complete 'energy cooperation plan' by March.

ISLAMABAD -- Pakistan and Russia Friday agreed to strengthen energy cooperation, enhance energy trade and broaden energy infrastructure investment based on strategic and favorable commercial terms.

The understanding was reached at the 8th session of Pakistan-Russia Intergovernmental Commission in Islamabad. It was co-chaired by Minister for Economic Affairs Sardar Ayaz Sadiq and the Russian Energy Minister Nikolay Shulginov.

Later reading out a joint statement alongside the Russian Energy Minister, Sardar Ayaz Sadiq said both sides have agreed to work on a comprehensive plan for energy cooperation which will form the foundation for future work and it is to be finalized in 2023.

It was agreed that after consensus on technical specifications, the oil and gas trade transactions will be structured in a way that mutually benefits both the countries. This process will be completed in March this year.

It was agreed that Pakistan Stream Gas Pipeline should be considered in terms of comprehensive infrastructure and economically viable project for sustainable gas infrastructure development ensuring affordable gas supplies.

Sardar Ayaz Sadiq said Pakistan and Russia reaffirmed their commitment to a strong and cooperative economic relationship, reiterating that such a relationship contributes to the economic well-being of the two countries as well as the region.

Working under the express guidance of Prime Minister Shahbaz Sharif and Russian President Vladimir Putin, both sides took the opportunity to reaffirm their commitment to a strong and comprehensive economic relationship. They reiterated that such a relationship contributes to the economic well-being of the two countries, as well as the region. Both the sides proceeded from the discussions and decisions of the seventh IGC and carried the process forward, as well as explored additional avenues of cooperation.

Both the sides agreed to further strengthen and enhance collaboration in the fields of trade and investment, energy...