EPQL secures fuel flexibility with Badar-1 Gas agreement

MG News | August 20, 2025 at 09:52 AM GMT+05:00

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August 20, 2025 (MLN): Engro Powergen Qadirpur Limited (PSX: EPQL) has taken a strategic step to diversify its fuel sources by signing a Supplemental Agreement to its existing Power Purchase Agreement (PPA) with the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G).

The amendment, executed on August 19, 2025, enables EPQL to utilize gas from the Badar-1 field, supplied by Petroleum Exploration Limited (PEL Gas), as an additional fuel source for its power generation operations.

This development follows EPQL’s earlier Gas Supply Agreement (GSA) with PEL Gas, signed on August 5, 2024. The GSA was contingent on the PPA being updated to reflect the new fuel arrangement.

With the Supplemental Agreement now in place, EPQL awaits final regulatory approvals before commencing gas utilization under the new terms.

Company Secretary Saqib Rafique confirmed the update in a formal disclosure to the Pakistan Stock Exchange, emphasizing that operations under the revised agreement will begin only after all requisite approvals are secured.

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