Cooperation in energy field: pact with Russia to be signed during Zardari''s visit

Pakistan and Russia are to sign a pact on co-operation in the energy field during the forthcoming visit of President Asif Ali Zardari to Russia, sources in the Ministry of Petroleum told Business Recorder. The Cabinet in its meeting on November 10, 2010, had approved, in principle, an MoU on co-operation in energy sector with the Ministry of Energy of the Russian Federation.
The MoU was initiated by the Ministries of the two countries on November 19, 2010, in Moscow and is to be signed by the President of Pakistan during his forthcoming visit to the Russian Federation for which dates are being finalised by the two countries.
The draft MoU envisages mutual co-operation in the field of fuel and energy, covering the following sectors: (i) exploration, development and operation of oil and gas fields; (ii) hydrocarbon processing; (iii) coal industry; (iv) creation, operation and development of the energy infrastructure; (v) improvement of energy efficiency; and (vi) other areas of co-operation by mutual consent of the parties. Sources said that the MoU, which was duly vetted by the Ministry of Law, Justices and Parliamentary Affairs, was cleared by the Cabinet, in its meeting on December 15, 2010, which was presided over by Prime Minister Yousaf Raza Gilani.