Mari Energies assigns HBL to arrange financing for gas emissions project

Mari Energies Limited has appointed Habib Bank Limited (HBL) to arrange financing for a project aimed at reducing gas emissions at the Sachal Gas Processing Complex, the company informed the Pakistan Stock Exchange (PSX) on Tuesday.

The disclosure was made under the relevant provisions of the Securities Act, 2015 and PSX regulations on material information.

According to the company, Mari Energies and Ghani Chemical Industries Limited have set up a new company, GHG Emissions Mitigation Limited (GEM), to capture waste gas released during operations at the Sachal facility and convert it into usable products.

The project will process the captured gas to produce liquefied natural gas (LNG) and industrial and food-grade carbon dioxide, turning emissions that would otherwise be released into the air into commercially valuable products.

The project will be funded through a mix of investment by the partner companies and bank financing, with HBL responsible for arranging the loan component. The financing mandate was awarded during a ceremony held at Mari Energies’ head office in Islamabad on March 31, 2026.

The company added that the arrangement remains subject to regulatory approvals and completion of required formalities.