Pakistan Secures Safe Passage for LNG Shipment With Iran Deal

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Or sign-in if you have an account.(Bloomberg) — Pakistan has negotiated with Iran to secure safe passage for at least one Qatari liquefied natural gas shipment, according to people with knowledge of the matter, the latest effort by the South Asian nation to use its diplomatic ties to ease a deepening energy crunch.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Al Areesh — which had been idling in the Persian Gulf since loading cargo at Qatar’s Ras Laffan export terminal in early July — transited the Strait of Hormuz early Thursday, according to ship-tracking data compiled by Bloomberg. The ship crossed with its transponders switched on and is now signaling Pakistan as its destination.The deal to secure the safe crossing could cover other cargoes, one of the people added.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againPakistan, which has suffered acute fuel shortages since the start of the war, has leveraged its diplomatic channels to act as an intermediary in talks between the US and Iran. Earlier in the year it used those ties to negotiate with Tehran for the safe passage of several LNG cargoes.However, the latest flare-up in violence — along with an Iranian attack on a Qatari LNG tanker —effectively halted deliveries to Pakistan. The South Asian nation relies heavily on Qatar for the fuel, and canceled deliveries has resulted in rolling blackouts in parts of the the country.Pakistan’s petroleum ministry didn’t immediately respond to a request for comment. Qatar’s International Media Office and Iran’s foreign ministry also did not immediately respond to Bloomberg queries.It is not clear whether any payment was made to guarantee the crossing. Since the war began in late-February, Pakistan has been forced to pay over $400 million to procure LNG shipments from spot markets to replace supplies from Qatari, its top producers, according to Bloomberg calculations.—With assistance from Bilal Hussain (News), Fiona MacDonald and Arsalan Shahla.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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