Regency Petroleum expands to Corporate Area with JusGas franchise agreement

Months after becoming the first liquefied petroleum gas (LPG) company to list on the Jamaica Stock Exchange, Regency Petroleum Limited (RPL) this week announced its expansion into the Corporate Area of Kingston, St Andrew and St Catherine.

The company’s corporate expansion is being facilitated through a newly brokered major agreement with local gas retailer, JusGas Distributors Limited (JusGas).

With this agreement, JusGas will become the primary distributor of RPL's bulk cooking gas in the Corporate Area. The strategic alliance leverages RPL's expertise in providing high-quality petroleum products and JusGas' distribution network to bring commercial customers cooking gas supplies.

The new agreement was formalised during a joint company press launch, held last Monday at The Jamaica Pegasus hotel in New Kingston. During the event, representatives from both RPL and JusGas provided valuable insights into the collaboration and its anticipated impact on the Jamaican energy sector.

Speaking at the launch, RPL founder and Chief Executive Officer Andrew Williams shared: “We recognise that JusGas, like us – though a very young company – are passionate about business. They are passionate to the point where they have invested quite significantly in the assets needed to run this type of business. Realising their potential to positively impact the [Jamaican energy] industry, we decided to work alongside them for the growth and development of both companies.”

He noted that the agreement would be mutually beneficial to each company as RPL would have the opportunity to quickly expand the availability of its bulk LPG products in the Corporate Area, while JusGas would have a reliable supply of bulk LPG products to better serve their customer base.

For his part, Chief Operating Officer of JusGas Nakia Gregory expressed enthusiasm for the new agreement, stating: “We are thrilled [for this opportunity] with RPL, a company that shares our commitment to excellence and customer satisfaction. This collaboration is rooted in a shared vision and presents a tremendous opportunity for JusGas to expand our reach and deliver even greater value to our customers. We are happy to be building ‘Team Jamaica’ by supporting RPL, which is a local brand.”

The RPL and JusGas agreement brings several benefits to the market, including improved product availability, and enhanced cooking gas reliability. Customers can expect a seamless transition and improved supply chain efficiencies, resulting in a superior cooking gas experience. Both companies are committed to delivering exceptional service and meeting the evolving needs of their customers.

When asked whether he would be open to further agreement opportunities with like-minded companies, the RPL CEO responded in the affirmative. He shared: “We invite any company of integrity who has good and true intentions to grow their business… to talk with us so we can see how best we will be able to assist you. As long as your company is one of integrity, we will definitely try to incorporate you within Regency.”

He added: “We were at the smallest level at one point and we know what it is like to need assistance.”

For this reason, the CEO noted that he was primarily interested in coming on board with Jamaican energy companies, as he is passionate about nurturing the country’s social and economic growth.