ISLAMABAD - Russia offered Pakistan to invest in energy sector and export of up to 5,000MW electricity through Kyrgyzstan-Afghanistan route. 

Russian high-level energy delegation visited Pakistan to extend cooperation in all fields of energy ranging from import of electricity to LNG, natural gas, coal power production and oil and gas exploration. Russian delegation led by Deputy Minister for Energy comprised representatives of major energy companies.

Delegation met with Prof Ahsan Iqbal, Federal Minister for Planning, Development and Reforms on Thursday in Planning Commission to discuss cooperation in energy sector.

“we are very much encouraged with policies of the new government and Russian investors are eager to invest in energy sector of Pakistan”, Russia’s Deputy Minister for Energy in his opening remarks said.

Prof Ahsan Iqbal, Federal Minister for Planning, Development and Reforms said “there is a great potential between both the countries for cooperation. We welcome Russian investment in our energy sector. We are in the center of three major engines of growth which puts us at strategically important position. South Asia, China and Central Asia represent a market of three billion people. Russian investors should take advantage of this opportunity. Pakistan possesses rich resources and offers best incentive for foreign investors. The government believes in transparency and zero-tolerance for corruption”

Russian Deputy Minister stressed on the need of constituting a working group to tap the potential of energy cooperation between the two countries. Russian delegation also offered cooperation in modernising existing thermal plants and shifting them into coal-fired technology. Russian investors offered 100pc technical and financial solutions for the Jamshoro and Muzaffargarh power plants. They also showed interest to invest in Gaddani Power Park.

Russia is building hydro-power plants in Kyrgyzstan and Tajikistan including 3,900MW project in Kyrgyzstan and looking for new markets to export cheap electricity. Russian delegation made an initial offer of 1000MW which would subsequently be increased to 5000MW. This electricity will be available throughout the year. Russian Companies also showed interest in export of LNG and oil exploration in Pakistan.