Ghani Chemical Industries and Mari Energies Announce Joint Venture for LNG and CO2 Project

ENERGY – Pakistan

The project, the first of its kind in Pakistan, will produce 80,000 tons per year of liquefied natural gas (LNG) and 55,000 tons per year of industrial and food-grade carbon dioxide (CO2).

Ghani Chemical Industries Limited (GCIL) has approved a joint venture agreement with Mari Energies Limited to establish a pioneering project dedicated to capturing and processing cold-vent/exhaust gases from the Sachal Gas Processing Complex (SGPC).

This groundbreaking project, the first of its kind in Pakistan, will produce 80,000 tons per year of liquefied natural gas (LNG) and 55,000 tons per year of industrial and food-grade carbon dioxide (CO2). The investment is estimated at PKR 14 billion, with a significant portion to be financed through supplier credit.

The project is expected to generate approximately PKR 17 billion annually in revenue, promising substantial profitability.

Under the joint venture structure, GCIL will hold 49% of the shares, while Mari Energies Limited will retain 51%. Mr. Hafiz Farooq Ahmad, CEO of GCIL, will serve as the first CEO of the newly established project company.

This initiative marks a major step forward in Pakistan’s energy and industrial sector, focusing on sustainable gas processing and value addition. –ER News Desk

MORE NEWS

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top