GOIL PLC, Ghana’s leading indigenous oil and gas marketing company, has announced plans to add 12,000 metric tonnes of Liquefied Petroleum Gas (LPG) storage capacity within the next year, supported by an investment of $5 million.

The Group CEO and Managing Director, Edward Abambire Bawa, disclosed this during a panel discussion on “Monetising LPG to Enhance the Value of the Barrel in Africa’s Inland Markets” at the Africa Energy Week (AEW) 2025 in Cape Town, South Africa.

Mr. Bawa explained that Ghana’s LPG consumption stood at 340 million kilograms in 2024, yet existing storage infrastructure covers only two to three weeks of national demand. “This storage limitation is 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 expansion aligns with GOIL’s broader commitment to infrastructure development. Recent initiatives include the rollout of multiple Autogas stations in five regions, including Accra and Kumasi, and the inauguration of a polymer-modified bitumen terminal in Tema. GOIL currently operates over 438 service stations nationwide, serving diverse consumer segments with fuels, LPG, and lubricants while driving sustainable growth and strategic partnerships.

Mr. Bawa further noted that GOIL is committed to improving access to LPG, especially in rural areas, through well-designed policies, increased investment, and innovative business models such as digital payment solutions tailored to household cash flows.

At the AEW exhibition, GOIL showcased its expanding energy portfolio, highlighting opportunities in Autogas and its two LPG Cylinder Recirculation Plants in Accra and Tema. These facilities provide safe, affordable, and cleaner LPG access to domestic consumers. The company also presented the newly commissioned multi-million-dollar Bitumen plant in Tema, underscoring its contribution to Ghana’s energy and infrastructure sectors.

The panel discussion also featured industry experts, including Mohammed Amin Naderian of the Gas Exporting Countries Forum, Sebastian Wagner of DMWA Resources, and Sesakho Magadla, CEO of PetroSA, who shared perspectives on LPG monetisation across Africa.