The Chamber for Bulk Oil Distributing Companies (CBOD) has expressed regrets about the decision by Liquified Petroleum Gas (LPG) Marketers to cut ties with SAGE Petroleum (Quantum Terminals) and Blue Ocean, saying, it is counterproductive to the LPG promotion efforts by the government, National Petroleum Authority (NPA) and all stakeholders.

According to the Chamber, the two companies are valued members of CBOD and are key players in the downstream petroleum sector.

“Quantum Terminals and Blue Ocean Investments Limited are Ghanaian companies that have been legally registered by the laws of Ghana and comply with the National Petroleum Authority (NPA) Act 691, Act 2005 requirement for licensing regulation for the sector.  Hence, there is nothing illegal about their operations”.

“Quantum and Blue Ocean have over the years contributed to the infrastructural development of the downstream by investing in Quantum Terminals and Tema Multi-Purpose Terminals (TMPT), contributing to about 9% and 14% respectively of private sector petroleum products storage capacity.  They have made substantial investments in the LPG industry, particularly in the Cylinder Recirculation Model (CRM)”, It added.

Furthermore, the statement mentioned that the current model is aligned with the government’s target of increasing LPG usage to 50% by 2030.

“Their commitment to this initiative is evident in their over $30 million investment in bottling plants, storage facilities, and cylinders, as well as a $70 million investment within the next 18 months”, it added.

It continued that “While we strive to preserve our environment, we must never compromise our safety and efficiency of domestic Gas usage by spreading misinformation. A competitive business environment is essential for innovation and growth. We urge all stakeholders to engage in constructive dialogue to resolve this issue and foster collaboration within the industry”.

CBOD concluded that it stands in solidarity with Quantum Terminals and Blue Ocean and calls for a swift resolution that benefits all parties involved.

“We encourage our brothers from the LPG Marketing Companies (LPGMCs) to collaborate with the regulator and all relevant stakeholders, as none of us in the space pose a threat to each other, but the market will go against those who fail to comply, innovate and evolve. We believe working together is the key to ensuring nationwide access to safe LPG by 2030”, it added.