Puma Energy Tanzania to revamp strategy, eyes LNG and LPG opportunities

Dar es Salaam. Puma Energy Tanzania is set to review its strategic business plan in accordance with its shareholders’ agreement, as the company seeks to tap into emerging opportunities within the energy sector.

The announcement was made on May 27 during a courtesy visit by Puma Energy’s global leadership to the Office of the Treasury Registrar.

The delegation was led by the company’s global chief executive officer, Mr Mark Russel, who was accompanied by the Head of Africa, Mr Ben Quattara, and the Managing Director of Puma Energy Tanzania, Ms Fatma Abdallah.

Speaking during the meeting, Treasury Registrar Nehemiah Mchechu underscored the importance of timely strategic realignment to ensure sustained performance and enhanced value for shareholders.

“The management and board must review the business strategy within this year, so that we can seize the opportunities that lie ahead from next year,” said Mr Mchechu. He added that implementation of the revised plan is expected to commence in January 2026.

Puma Energy Tanzania is jointly owned by the government of Tanzania and Puma Investments Limited, with each party holding a 50 percent stake. Mr Mchechu reaffirmed the government’s commitment to its investment in the company, describing Puma as a strategic national asset.

“Our investment in Puma ensures the government’s presence in the energy sector and within the distribution network,” he said.

“Even in times of crisis, others may shut down — but not Puma. We are proud of the dividends received and of the company’s overall performance,” he added.

Mr Russel is visiting Tanzania for the first time in his current role, expressed confidence in the country’s growth potential, noting that the company aims to expand both its distribution network and retail product offerings.

“We intend to reassess our strategy to identify areas where we can further grow the business and deliver more value to the community through our retail services,” he said.

“Tanzania is a highly promising country with vast opportunities — including those in liquefied natural gas (LNG) and liquefied petroleum gas (LPG) projects. Together with the government, we will work to identify and unlock these opportunities,” he added.

For his part, Mr Quattara stressed the strategic importance of Tanzania within Puma Energy’s African operations.

“From an Africa perspective, Tanzania remains a vital and valued partner. We aim to continue investing, growing, and enhancing our portfolio here,” he said.

“Strategic partnership also entails ensuring that local communities benefit — through job creation and positive social impact. The fact that Tanzania is our first stop in these new roles is a testament to its significance for us,” he noted.

Ms Abdallah reported strong local performance and outlined key projects currently underway. These include the construction of Compressed Natural Gas (CNG) stations, with operations scheduled to commence within the next two to three months.

She also highlighted the expansion of the LPG business beyond Dar es Salaam and Pwani to Dodoma, with further rollouts planned for Mwanza and Arusha before the end of the year.

Regarding the company’s financial performance, Ms Abdallah reported a 51 percent increase in profit for the year 2024, with dividend announcements expected in June 2025.

“Expect great things from Puma Tanzania in the months and years ahead,” she said.