Singapore-headquartered Petrosin CNG has sued Mari Energies before the International Chamber of Commerce (ICC) in London, seeking $19.1 million (Rs. 5.36 billion) in damages over the alleged unlawful termination of a gas supply agreement.
Mari Energies has rejected the allegations and says it lawfully terminated the Gas Sales and Purchase Agreement (GSPA) after Petrosin no longer held a valid operating licence.
Petrosin argues that the termination breached the terms of the agreement and caused significant commercial losses.
The company has also sought recovery of arbitration costs through the ICC proceedings. Separately, Petrosin has filed a civil petition before the Supreme Court challenging an Islamabad High Court ruling issued on January 1, 2026, which upheld Mari Energies’ decision to terminate the contract.
The disputed agreement covered the supply of natural gas from the Halini Production Field and was intended to remain in force as long as gas was available and the buyer complied with its contractual obligations.
The contract also included an arbitration clause requiring disputes to be resolved under the ICC Rules of Arbitration, with London designated as the seat of arbitration.
Following Mari Energies’ termination notice in May 2025, Petrosin secured interim relief from a civil court before commencing ICC arbitration and filing an enforcement petition.
The Islamabad High Court later dismissed the enforcement petition.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
