Pakistan, Russia sign MoUs on energy

Pakistan and Russia on Thursday signed four Memorandum of Understandings on energy cooperation, air space, promotion of investment and cooperation in agriculture sectors.

The MoU on energy cooperation was signed by Advisor to Prime Minister on Petroleum and Natural Resources Dr. Asim Hussain and Russian Minister for Energy Sergei Shnatro.

The MoU on agriculture cooperation was signed by Russian Acting Minister for Agriculture Kovolev while Pakistan Minister for Agriculture and Food was represented by Pakistan envoy in Moscow Mohammad Khalid Khattak while the MoU on promotion of investment between the two countries was signed on Wednesday between the two countries by Chairman Board of Investment Salim H Mandviwala and chairman Russian National Investment Agency.

President Asif Ali Zardari and his Russian counterpart Dmitry Medvedev witnessed the signing ceremony.
The MoU in energy fields would encourage development of Pakistan’s oil and gas fields, development of petroleum and natural gas storages in Pakistan, improvement of Pakistan’s natural gas infrastructure, project for using natural gas as a motor fuel. A Russian Company Stroytransgaz,  as said in the joint communiqu’, has expressed keen desire to build transnational gas pipeline projects of Pakistan from Turkmenistan, Iran or Qatar.

Similarly, Gazprom Geoservice Petroleum Company has agreed to construct oil and gas storage facilities and would also help in the training of Pakistani oil and gas experts and the experts of leading Russian companies have already visited Pakistan.
For promotion of agriculture in Pakistan, the main Russian automobile manufacturers are interested to invest in Pakistan and the MoU on  agriculture sector would promote the agriculture sector of Pakistan.

For the promotion of investment in Pakistan, Lada is interested to manufacture cars of 1300 cc, Samara to manufacture cars of 800 cc, Nova group to manufacture 800 cc cars.

There is also a proposal by Russian companies Chelyabinsk and Traktorexport for manufacture of Russian tractors in Pakistan.
The Russian businessmen are keen to invest in Pakistan in telecommunication, banking, energy and infrastructure building and expansion of Pakistan Steel Mills Karachi.