GOIL PLC, one of Africa’s largest energy companies, has announced plans to add 12,000 metric tons of liquefied petroleum gas storage capacity over the next year through a $50 million investment, aimed at boosting domestic LPG infrastructure as energy demand increases across Africa.
Edward Abambire Bawa, Group CEO and Managing Director of GOIL PLC, emphasized that storage limitations present both a challenge and a prime investment opportunity. “Expanding infrastructure is fundamental to unlocking the full monetisation potential of LPG, benefiting producers, distributors, and end consumers alike,” he stated.
The company noted that a lack of investment has historically hampered the progress of energy production and storage capabilities in African nations. GOIL recognizes the challenges faced by Ghana’s LPG sector, which has lagged behind international production and storage standards.
In addition to the substantial investment in Ghana’s LPG storage capacity, GOIL plans to launch a digital payment solution tailored to African families’ budgets and needs. The company’s investment underscores a broader commitment to infrastructure development and positions Ghana to become a major player in the LPG sector.
GOIL’s operations span across the continent, with plans for additional projects and investments in the future, aiming to increase Africa’s role in the global energy community.
Source: energiesmedia.com