Pakistan, Russia sign $2.5bn accord for LNG pipeline


ISLAMABAD: Pakistan and Russia signed here on Sunday an agreement for laying a $2.5 billion pipeline to carry imported liquefied natural gas (LNG) from Karachi to Lahore.

Sidestepping the normal bidding requirements, the agreement was signed as a government-to-government deal. Moscow would provide a loan of $2bn in return for the award of the contract to state-run Russian firm RT Global, an arm of Russia State Corporation.