The Express Tribune reported that India and Russia are looking towards tapping Pakistan Gas Market. In an article published on 27th April, it was said that as Russia fears losing its European Union market, it is looking to capture the Pakistan’s market for its gas exports.
Russia aims to lay off offshore gas pipeline to serve the Pakistani market. It is a big exporter of gas to Turkey and Europe and has achieved an all-time high of export volumes in 2017. The Russian gas giant Gazprom has already signed MoU with Engineers India for joint studies for a gas pipeline between India and Russia. The article also mentioned that Russia has conveyed to Pakistan that it wants to build an offshore gas pipeline passing through Gwadar Port to India, and has offered Pakistan to join this project.
It is notable that Pakistan has also signed a deal with Russia on a government-to-government level for awarding the contract for Liquefied Petroleum Gas pipeline between Lahore and Karachi.
Earlier, Russia had assisted Pakistan’s largest hydrocarbon explorer, OGDC, in search for energy resources. Both sides are now expected to sign a contract for materializing the pipeline project for gas trade.