Omera Petroleum, a subsidiary of MJL Bangladesh PLC, has acquired nearly all shares of Premier LP Gas Limited, widely known as Totalgaz Bangladesh, for Tk227 crore, subject to regulatory approval. With the completion of this deal, Omera now holds 99.995% ownership of Premier LP Gas, marking a major consolidation move in the country’s LPG sector.
The agreement was signed by Tanzeem Chowdhury, CEO of Omera Petroleum, and Monzur Morshed Siddiqui, Managing Director of Premier LP Gas. The signing ceremony was attended by senior officials from both companies, including Azam J Chowdhury, Director of Omera, and Thibault Lesueur, Vice President for South Asia of TotalEnergies’ Marketing & Services division.
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This acquisition provides Omera with control over Totalgaz’s 1.6 million cylinders and its established infrastructure across Bangladesh. Company officials stated that the move will strengthen Omera’s LPG operations, diversify its revenue streams, and enhance profitability in a market where the company already holds a 22% share, while Totalgaz contributes around 5%. The combined strength is expected to raise Omera’s market share to nearly 27%, positioning it as one of the clear leaders in the LPG industry.
The deal follows months of negotiations that were slowed down by resistance from some local shareholders holding an 11% stake in Premier LP Gas. France-based Totalgaz, however, remained committed to exiting the Bangladesh market after facing annual losses of Tk15–20 crore for several years.
Industry insiders suggest that this consolidation reflects the growing challenges of the LPG sector, where rising costs, import dependency, and aggressive competition are reshaping market dynamics. Omera’s expanded share not only gives it a stronger foothold but also highlights the increasing dominance of local players over multinational competitors.
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Totalgaz first entered Bangladesh in 2002 and quickly rose to become one of the top three LPG importers and marketers. However, over the years, it lost ground to domestic firms that invested heavily in infrastructure and brand presence, paving the way for Omera to capitalize on the shift and secure long-term growth opportunities in the sector.