Petrosin CNG seeks $19.1 million from Mari Energies in ICC arbitration over gas deal termination

Petrosin CNG has taken Mari Energies Limited to international arbitration, claiming $19.1 million over a dispute linked to gas supplies from the Halini Production Field, The News reported. 

The case has been filed before the International Chamber of Commerce (ICC) and will be heard in London under the arbitration provisions of the Gas Sale and Purchase Agreement.

Petrosin’s claim is based on its position that Mari Energies ended the contract before it was entitled to do so. The company says the agreement was meant to continue while gas remained available from the field, as long as the buyer complied with its contractual obligations.

It is seeking compensation for alleged business losses, along with arbitration expenses and other relief.

Mari Energies disputes the claim. The company says it terminated the agreement under the contract because Petrosin did not have a valid licence at the relevant time.

A Mari Energies spokesperson also said Pakistani courts had so far supported the company’s position and that no adverse ruling was in effect. The company said it expected the ICC tribunal to uphold its case.