Business Recorder
Mari Energies Limited, one of Pakistan’s largest E&P companies, has partnered with Ghani Chemical Industries Limited (GCIL) to establish a special purpose vehicle (SPV) aimed at converting waste gases into commercially viable products, including liquefied natural gas (LNG) and carbon dioxide. The listed company disclosed the development in a notice to the Pakistan Stock Exchange (PSX). “MariEnergies and GCIL have established a project company, namely GHG Emissions Mitigation Limited (GEM), to mitigate methane emissions from Sachal Gas Processing Complex (SGPC) by recovering hydrocarbons from the exhaust gas for producing and disposing in the form of LNG as well as industrial and food-grade carbon dioxide (CO2),” read the disclosure. Mari shared that the project would be financed through a combination of equity contributions by the sponsors and debt financing arranged through Habib Bank Limited (HBL). Mari Energies, Ghani Chemical join hands for emissions reduction project “In this regard, HBL has been given the mandate for arranging project financing in a ceremony held on 31st March 2026 at MariEnergies Head Office, Islamabad,” it added. By operating the country’s largest gas reservoir at Mari Gas Field, Daharki, Sindh, MARI is the second-largest producer of natural gas in Pakistan. The company is an integrated oil and gas exploration and production company, and around 70% exploration success rate, which is much higher than industry averages of around 33% nationally and 14% internationally. MARI’s key customers include fertiliser manufacturers, power generation companies, gas distribution companies, and refineries.
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