Islamabad: Russia has come up with an integrated investment package of $14 billion for the energy sector in Pakistan including offshore gas pipeline and underground storage projects, a media report said on Thursday.

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As per the reports, A Russian delegation headed by Gazprom Management Committee Deputy Chairman Vitaly A Markelov pledged to do investment during a recent visit to Pakistan. The Russian companies would build a gas pipeline from Karachi to Lahore to transport imported gas for meeting the needs of the Punjab province.

According to report, Russians would invest around USD 10 billion in an offshore gas pipeline project, Out of the USD14 billion and USD 2.5 billion in the North-South pipeline project and the remaining on building underground storages in Pakistan.

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Pakistan and Russian state-run entities on signed inter-corporate agreement to conduct a feasibility study of the USD10-billion offshore pipeline project. This big investment in Pakistan is coming at a time when bilateral relations between Moscow and Islamabad were warming up.

Economic benefits such as transit fee would accrue to Pakistan if the project is implemented, the report said. As per the agreement, Pakistan will import some 500 million to 1 billion cubic feet of gas from Russia daily, which would be transported through sea link.