NPA reaffirms regulatory support as Puma Energy Ghana deepens investment in LPG, CRM 

The National Petroleum Authority (NPA) has reaffirmed its commitment to providing responsive, efficient and transparent regulatory support to investors as Puma Energy, a key player in Ghana’s Cylinder Recirculation Model (CRM), deepens its investment in the LPG sector.

The commitment was expressed when a delegation from Pumagas, led by the General Manager for Puma Energy, Mr. Lanzeni Coulibaly, paid a courtesy visit to the Chief Executive of the NPA, Mr. Godwin Kudzo Tameklo, Esq. on Monday.

The engagement provided an opportunity for Puma Energy to formally introduce Pumagasa subsidiary, and some of its key distributors and dealers to the Chief Executive of the NPA.

The new branded cylinders, which represent a further step in Pumagas' efforts to strengthen its participation in the CRM ecosystem, were presented to Mr. Tameklo.

The Pumagas delegation expressed its appreciation for the leadership and support provided by the CE in advancing the initiative and reaffirmed the company's commitment to sustained investment in the CRM and the broader LPG sector. Presenting the company's strategy, Pumagas indicated that it intends to adopt a deliberate policy to separate production and distribution activities as part of its efforts to accelerate market adoption, expand its distribution network and contribute to the achievement of Chana's CRM targets.

The strategy is expected to support greater efficiency within the LPG value chain while strengthening the availability and accessibility of CRM cylinders to consumers.

In his remarks, Mr. Tameklo reaffirmed the Authority's commitment to providing continuous regulatory support to legitimate industry players and create the enabling environment for sustainable investment in Ghana's downstream petroleum sector.

He stressed the importance of fairness, mutual respect, trust and responsiveness in the relationship between the regulator and industry players.

The NPA Boss said regulation should facilitate the growth and development of businesses while safeguarding public interest, rather than becoming an unnecessary impediment to investment.

He emphasised the need for regulation to be efficient and expeditious, noting that regulatory processes must respond to the realities and timelines of businesses operating in a competitive investment environment.

He noted that Ghana's downstream petroleum sector continues to attract investors partly because of a favourable regulatory environment which promotes fairness.

The NPA Chief Executive underscored the importance of building and maintaining trust between regulators and industry players, and assured Pumagasand other stakeholders of the Authority's full support in facilitating legitimate investments and resolving regulatory issues in a timely and constructive manner.

He, however, cautioned that actions or behaviours that could undermine Ghana’s reputation as an attractive destination for investment would not be entertained.

“Maintaining investor confidence is a shared responsibility involving both regulators and industry participants,” he said.

The engagement highlighted the importance of collaboration between the regulator and private-sector participants in achieving the objectives of the CRM.

The NPA welcomed Pumagas' continued commitment to investing in the LPG sector and its efforts to strengthen its distribution and market-development strategy. The meeting concluded with both parties reaffirming the importance of continued engagement, collaboration and mutual respect in supporting the growth of Ghana's LPG industry and the successful implementation of the CRM.

Source: NPA