ISLAMABAD, Pakistan, June 11 (UPI) -- Pakistan says it favors a negotiated settlement of the Iran nuclear issue while noting the new U.N. sanctions won't affect its gas pipeline deal with Tehran.
"Pakistan has always called for a negotiated settlement of the issues surrounding Iran's nuclear program. We will continue encouraging all parties concerned to re-engage in a purposeful diplomacy and settle differences in the spirit of cooperation and accommodation," Pakistani Foreign Office spokesman Abdul Basit said, Dawn newspaper reported.
The U.N. Security Council Wednesday voted 12-2 to tighten sanctions against Iran over its nuclear program, with Brazil and Turkey voting against the resolution and Lebanon abstaining. Iran insists its program is for peaceful purposes but the Untied States and others say it is designed to make nuclear weapons.
Basit, while calling for a negotiated settlement, did not denounce the fourth round of sanctions against Iran, Dawn said.
He said the sanctions will not affect the $7.6 billion pipeline project to import natural gas from Iran to meet Pakistan's energy needs.
"As far as our (pipeline) project is concerned, it is a commercial agreement to meet our energy deficit and beyond the purview of this (U.N. sanctions) resolution," Basit said.
The 560-mile long pipeline project will connect Iran's giant South Fars gas field and Pakistan's Balochistan and Sindh provinces. Iran, a major oil producing country, needs to secure markets for its huge natural gas reserves, estimated to be the world's second-largest after Russia's.
The project with Pakistan is set to be completed by 2015 and calls for Pakistani imports of 750,000 cubic feet of gas per day for 25 years to be used for generating electricity. Pakistan expects to save $1 billion annually in energy costs under the deal.
