Ghana’s petroleum downstream regulator, the National Petroleum Authority (NPA), has reaffirmed its commitment to providing responsive, efficient and transparent regulatory support to investors as Puma Energy Ghana deepens its investment in the liquefied petroleum gas (LPG) sector and the Cylinder Recirculation Model (CRM).
The commitment was expressed when a delegation from Pumagas, led by Puma Energy Ghana General Manager Lanzeni Coulibaly, paid a courtesy visit to NPA Chief Executive Godwin Kudzo Tameklo on Monday.
The meeting provided an opportunity for Puma Energy to formally introduce Pumagas, a subsidiary, as well as some of its key distributors and dealers to the NPA chief executive.
The delegation also presented new branded cylinders to Tameklo, describing them as a further step in Pumagas’ efforts to strengthen its participation in the CRM.
Pumagas expressed appreciation for the leadership and support provided by the NPA in advancing the initiative and reaffirmed its commitment to sustained investment in the CRM and the broader LPG sector.
Presenting the company’s strategy, Pumagas said it intends to separate production and distribution activities as part of efforts to accelerate market adoption, expand its distribution network and contribute to Ghana’s CRM targets.
The strategy is expected to improve efficiency across the LPG value chain while increasing the availability and accessibility of CRM cylinders to consumers.
Tameklo reaffirmed the NPA’s commitment to providing continuous regulatory support to legitimate industry players and creating an 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.
Regulation should facilitate the growth and development of businesses while safeguarding the public interest, rather than becoming an unnecessary impediment to investment, Tameklo said.
He also emphasised the need for regulatory processes to be efficient and expeditious, saying they should reflect the realities and timelines of businesses operating in a competitive investment environment.
Tameklo said Ghana’s downstream petroleum sector continued to attract investors partly because of a regulatory environment that promotes fairness.
He underscored the importance of building and maintaining trust between regulators and industry players and assured Pumagas and other stakeholders of the NPA’s support in facilitating legitimate investments and resolving regulatory issues in a timely and constructive manner.
He cautioned, however, that actions or behaviour that could undermine Ghana’s reputation as an attractive investment destination would not be entertained.
“Maintaining investor confidence is a shared responsibility involving both regulators and industry participants,” he said.
The meeting highlighted the importance of collaboration between the regulator and private-sector participants in achieving the objectives of the CRM.
The NPA welcomed Pumagas’ continued investment 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 implementation of the CRM.
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.