Mari Energies denies wrongful termination of Petrosin gas agreement

MG News | July 21, 2026 at 03:03 PM GMT+05:00

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July 21, 2026 (MLN): Mari Energies Limited (PSX: MARI) has denied allegations that its Gas Sale and Purchase Agreement (GSPA) with Petrosin CNG (Pvt) Limited was wrongly terminated, following news reports on the matter and the resulting ICC arbitration proceedings.

The company said it is a matter of record that the GSPA required Petrosin to hold a valid license, and that Petrosin did not have a valid license on the date the agreement was terminated.

MariEnergies said its position has been consistently upheld by Pakistani courts, and no adverse order against it is presently in the field. The company added that its stance in the relevant court proceedings is already a matter of public record.

The pending arbitration proceedings are confidential in nature, MariEnergies said, adding that it remains confident it will be vindicated in these proceedings.

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