The Petroleum Hub Development Corporation (PHDC) has signed a US$1 billion Memorandum of Understanding (MoU) with Mighty Gager Company Limited to expand fuel storage infrastructure at the Petroleum Hub in Jomoro.
The agreement, finalised on March 17, 2026, outlines plans to construct storage facilities with a capacity of about two million metric tons, forming a key part of Ghana’s ambition to develop an integrated petroleum and petrochemical hub.
PHDC Chief Executive Officer Toni Aubynn described the deal as a critical step toward establishing large-scale tank farms, noting that the project will strengthen Ghana’s position in the regional petroleum value chain. He said the expanded storage capacity will support refining, distribution, and trading activities across West Africa.
According to him, the broader Petroleum Hub initiative is designed not only to build infrastructure but also to strategically position Ghana to capture greater value from the global petroleum trade, in line with national industrialisation goals.
Chief Executive Officer of Mighty Gager, Kevin Gager, expressed confidence in the project’s rollout, stating that the company is engaging international partners to fast-track implementation. He added that the project is expected to generate substantial direct and indirect employment opportunities.
The agreement forms part of the wider Petroleum Hub project established under the Petroleum Hub Development Corporation Act, 2020 (Act 1053). The initiative aims to transform Ghana into a regional energy hub through the development of refineries, petrochemical plants, storage facilities, and supporting port infrastructure.
When completed, the hub is expected to include three refineries with a combined capacity of 900,000 barrels per day, alongside storage capacity of up to 10 million cubic metres.
The latest MoU underscores growing private sector interest in the project, which is expected to boost energy security, expand infrastructure, and reduce Ghana’s reliance on imported refined petroleum products while strengthening its role in the West African energy market.
