Pakistani LNG producer Mecom Gas Pvt Ltd. plans to hold an IPO on the Pakistan Stock Exchange in order to raise $20 million for the construction of an LNG storage facility. This is reported in a press release. Mecom.
The company's management is negotiating with the investment bank Arif Habib Ltd. according to the proposed placement of shares for the purpose of implementing a gas storage project with a volume of 3 thousand tons. Mecom Gas has decided to expand its storage facilities by more than two times to create sufficient LNG reserves and has received regulatory approval to build its own storage facilities.
Pakistan is facing an energy crisis amid the Middle East conflict, as it imports most of its oil and gas from the Middle East, particularly Qatar. In the LNG sector, the price of fuel has doubled, taking into account the significant increase in the share of imports in recent years.
Mecom Gas (Pvt.) Ltd. is a Pakistani LNG production and distribution company. The headquarters is located in Islamabad (Pakistan).Read our Telegram channel "Mergers and Acquisitions. AK&M».
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