Tropigas

Name

Tropigas

Legal name

TROPIGAS DE PANAMA, S.A.

Website

https://tropigas.com.pa

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

LPG Gas Distribution

NAICS

Petroleum Bulk Stations and Terminals (424710), Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (424720)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

LPG / NGL Terminals (Pressurized/ Refrigerated Gas) (TLAHABAK)

akta.pro secondary industries

NGLs & LPG Trading & Marketing (EUAGAAAE), NGL/LPG Pipeline Storage & Terminaling (Caverns, Bullet Tanks, Tank Farms) (TLAGAEAM), Liquefied Gas Transport (LNG/LPG/Ammonia) (TLADALAC)

Keywords

• LPG gas distribution
• Propane cylinders
• Gas retail
• Bulk gas installation
• Residential gas supply

Headquarters

HQ city

Panama City

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. LPG Gas Cylinder Sales: Sale of LPG refills and new cylinders in various sizes (25 lbs, 100 lbs, BBQ cylinders). Revenue from both cylinder deposits/usage fees and gas refills. Prices vary every 14 days based on international market parameters.
2. Installation Services: Installation services for residential and commercial gas cylinder systems, including bulk tanks and residential meters

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Tropigas distributes and sells Liquefied Petroleum Gas (LPG) across Panama through a network of company-owned plants, retail stores, authorized dealers (Tropisocios), and an online portal with mobile apps. Its product portfolio includes 100 lb and 25 lb steel/aluminum gas cylinders, AMIGAS BBQ composite cylinders, industrial forklift cylinders, and vertical bulk storage tanks, complemented by professional installation services for residential and commercial customers.

Product overview

Tropigas is a 100% Panamanian company with over 60 years of experience in the commercialization and distribution of Liquefied Petroleum Gas (LPG). The product portfolio centers on gas cylinders of various sizes for different applications: the 100 LBS cylinder as the primary product for homes and businesses, the 25 LBS cylinder for household use, and the AMIGAS BBQ Gas cylinder for outdoor cooking. Accessories include regulators and hoses. Industrial offerings comprise forklift gas cylinders and vertical bulk tanks for fixed installations. The company operates through physical points of sale, an online portal, and a mobile application for customer management.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Plan Vida has impacted 40,000 families in Darien and capital areas in one year
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core and minor.

• PetroportcoreStrategic or Co-development Partner · 1 January 1994Petroport is a subsidiary created by Tropigas in 1994-1995 for LPG import and storage operations. It now supplies 60% of Panama's domestic market and is one of the most important logistical operators in the region.
• Bambito Agua de ManantialminorStrategic or Co-development PartnerRecicla con Bambi is an environmental program run by Fundación Trenco in collaboration with Bambito Agua de Manantial. The program promotes recycling culture among customers and employees through collection and recycling of plastic bottles, which are picked up by Bambi delivery personnel and then delivered to specialized plastic recycling companies.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Regional players

• Antargaz: Leading French LPG distributor (part of UGI Corporation) supplying bottled and bulk LPG to residential and commercial customers. Same cylinder-based retail business model as Tropigas but in a European geography.

Direct peers

• Ultragaz: Brazil's largest LPG bottler and distributor, selling cylinders (P13, P45) to residential and commercial customers via its own distribution network. Direct regional peer given comparable cylinder-based LPG retail model across Latin America.
• Supergasbras: Major Brazilian LPG distributor owned by SHV Energy, distributing bottled gas to households and businesses nationwide. Closely mirrors Tropigas' direct-to-consumer cylinder model and dealer network structure.
• Gasco: Chile's leading LPG company producing, storing, and distributing liquefied gas in cylinders and bulk for residential and industrial customers. Comparable vertically integrated LPG model with similar end-market exposure.

Broad incumbents

• AmeriGas Propane: Largest U.S. propane retailer distributing LPG to residential, commercial, and industrial customers via a national dealer network. Comparable business model and customer mix, with broader geographic reach and brand scale.
• Ferrellgas Partners: U.S. propane distributor serving residential, commercial, and industrial customers, also operating the Blue Rhino exchange brand. Similar cylinder/bulk LPG model with established dealer network, operating at significantly larger scale.
• SHV Energy: Global LPG distribution arm of Dutch SHV Holdings, operating Supergasbras, Primagaz, and Calor. Indirect peer as the parent of multiple LPG retailers that compete with Tropigas' model in Latin America and globally.
• Repsol Butano: LPG division of Spanish energy major Repsol, distributing bottled gas and bulk LPG across Spain, Portugal, and Latin America. Comparable diversified-energy LPG distributor with overlapping customer segments in Iberian and Latin American markets.
• Naturgy (Gas Natural Fenosa): Multinatural gas and LPG distributor with significant operations across Latin America, including Panama and Central America. Overlaps with Tropigas in LPG distribution and energy retail to residential customers in the region.

Emerging players

• Grupo Tomza: Mexican/Latin American LPG distributor with cylinder and bulk supply, depot operations, and dealer networks. Closely comparable mid-sized regional LPG distributor with similar vertically integrated import-to-retail structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/TropigasPanama
• YouTubeyoutube.com/channel/UCTzQOII6kkPL_bgQ5-8a3oA
• Facebookfacebook.com/TropigasPanama
• Instagraminstagram.com/tropigaspanama

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tropigas