Pakistan and Russia Friday inked an intergovernmental agreement on the construction of a gas pipeline, reported 24NewsHD TV Channel.

According to a statement issued by the Ministry of Energy, now the agreement between Pakistan and Russia would accelerate progress on the North-South gas pipeline construction project.

The agreement was signed by Pakistan's Ambassador Shafqat Mahmood and Russia's Energy Minister. The Pakistan Stream Gas Pipeline Company would be set up within the next 60 days of the agreement and it would implement the project.

The agreement also named the project Pakistan Stream Gas Pipeline in the intergovernmental agreement between Pakistan and Russia.

The statement said the North-South Gas Pipeline Project had been delayed since 2015. And now the agreement with Russia would further enhance Pak-Russia relations in the energy sector.

It was being observed that the gas pipeline project would create vast employment opportunities in Pakistani companies.