Mari Energies has rejected allegations that it wrongfully terminated a Gas Sale and Purchase Agreement (GSPA) with Petrosin CNG (Pvt) Ltd, arguing that Petrosin lacked the valid licence required under the contract when it was cancelled, as the dispute remains before confidential International Chamber of Commerce (ICC) arbitration proceedings. The listed exploration and production company disclosed its position in a notice to the Pakistan Stock Exchange (PSX) on Tuesday, responding to recent media reports concerning the Petrosin agreement and the subsequent arbitration. 'Mari Energies Limited categorically denies any allegations that the GSPA with Petrosin was wrongly terminated,' the company said. Mari Energies maintained that the agreement required Petrosin to possess a valid licence and that the latter did not hold one on the date the contract was terminated. The energy producer also pointed to proceedings in Pakistani courts, saying its position had consistently been upheld and that there was currently no adverse order against the company. 'The stance taken by MariEnergies in the relevant court proceedings is already a matter of public record,' it said. The dispute has also moved into ICC arbitration. Mari Energies said those proceedings were confidential, limiting what it could disclose publicly about the continuing case. The company nevertheless expressed confidence about the eventual outcome, saying it expected its position to be vindicated in the arbitration proceedings. The disagreement centres on the termination of the GSPA between Mari Energies and Petrosin CNG. The company's latest statement seeks to counter claims about the circumstances in which that contractual relationship ended. Mari Energies is an integrated oil and gas exploration and production company. It reports an exploration success rate of around 70%, compared with industry averages of approximately 33% in Pakistan and 14% internationally. Its customers include fertiliser manufacturers, power-generation companies, gas-distribution busine sses and refineries. For now, the central issue remains the legality of the GSPA termination. Mari Energies maintains that Petrosin's licensing position justified its decision, while the underlying dispute remains subject to confidential ICC arbitration.