Tanzania: Puma Energy Eyes LNG, LPG Opportunities With New Strategy

Puma Energy Tanzania is set to revamp its strategic business plan, focusing on emerging opportunities in the energy sector, particularly in liquefied natural gas (LNG) and liquefied petroleum gas (LPG).

The company’s global CEO, Mark Russel, led a delegation to the Office of the Treasury Registrar on May 27, where they met with Treasury Registrar Nehemiah Mchechu.

Mchechu emphasized the importance of timely strategic realignment for sustained performance and enhanced shareholder value, directing the company to review its business strategy within the year, with implementation expected to commence in January 2026.

Puma Energy Tanzania is a joint venture between the government of Tanzania and Puma Investments Limited, with each party holding a 50% stake. Mchechu reaffirmed the government’s commitment to its investment, describing Puma as a strategic national asset that ensures government presence in the energy sector.

Russel expressed confidence in Tanzania’s growth potential, citing opportunities in LNG and LPG projects.

He stated that the company aims to expand its distribution network and retail product offerings, working closely with the government to identify and unlock these opportunities.

The Head of Africa, Ben Quattara, highlighted Tanzania’s strategic importance within Puma Energy’s African operations, emphasizing the company’s commitment to investing, growing, and enhancing its portfolio in the country.

The Managing Director of Puma Energy Tanzania, Fatma Abdallah, reported strong local performance, including a 51% increase in profit for 2024, with dividend announcements expected in June 2025.

She outlined key projects, such as the construction of Compressed Natural Gas (CNG) stations and the expansion of the LPG business to new regions, including Dodoma, Mwanza, and Arusha.

Source:https://energynewsafrica.com