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Pakistan and Russia signed $1.7 Billion Energy Deal

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Pakistan and Russia have signed an energy deal worth $1.7 billion for laying a liquefied natural gas (LNG) pipeline from Karachi to Lahore.

It is for the first time Islamabad and Moscow have signed an energy pact decades after their defence deal. The energy agreement was signed during the visit of the Russian defence minister Sergei Shoigu. Islamabad and Moscow also have also signed a defence and military cooperation deal.

The government has signed a deal with China to award USD 3 billion Gwader LNG pipeline and terminal project. Russia has helped Pakistan set up the Karachi Steel Mills and also supported the Oil and Gas Development Company Limited, which is still using old Russian machinery in exploring oil and gas.