Saturday, July 24, 2021

Ghana emphasizes the value of an enabling environment and the role of natural gas


Sierra Leone Telegraph: 16 July 2021:

The African Energy Chamber (AEC) is proud to announce that Ghana will be hosting a pavilion at African Energy Week (AEW) 2021 taking place in Cape Town on the 9th-12th of November 2021.

Led by Dr. Matthew Opoku Prempeh, Ghana’s Minister of Energy, as well as a delegation of industry leaders including Dr. K. K. Sarpong, CEO of the Ghana National Petroleum Corporation, the pavilion represents a new exhibition format that emphasizes specific market opportunities and will showcase Ghana’s existing energy developments, upcoming projects, and lucrative investment opportunities.

Specifically, Ghana’s pavilion will highlight the value of Liquified Natural Gas (LNG) as a power generation solution, providing an in-depth view of the current market and the enabling regulation driving progress and expansion.

As one of Africa’s leading natural gas producers, Ghana has demonstrated how, through gas directed investment and the right policy, the resource can address energy poverty and expand power accessibility on a regional basis. Specifically, Ghana’s recognition of the value of LNG as a cleaner, more accessible, and increasingly secure energy source has led to the development of large-scale LNG facilities, positioning the country as a both a regional power producer and LNG exporter.

The Tema LNG Terminal, for example, serves as sub-Saharan Africa’s first LNG power generation facility, and holds the capacity to receive, store, regasify and deliver 3.4 million tons of LNG per year. In conjunction with the Sankofa Gas Project – a 1,000MW gas-to-power project that provides over 1.6 million households with a consistent power supply – the Tema LNG Terminal is positioning Ghana as an African leader and global competitor in natural gas developments and the AEW 2021 pavilion will further emphasize this.

In addition to directing investment in the natural gas sector, Ghana’s pavilion will emphasize the various upstream opportunities prevalent in the country. Notably, the country has made significant progress in advancing exploration and production within the oil sector, in which the presence of global oil majors has only accelerated progress.

In addition to ongoing involvement by Italian multinational Eni and deep-water exploration company Kosmos Energy, Ghana’s national oil company has emerged as a competitive participant in the country’s burgeoning oil sector.

By showcasing the country’s oil sector achievements thus far, emphasizing the role that the Ghana-based Springfield E&P Ltd. has played in expanding the sector, the pavilion will highlight that Ghana is a force to be reckoned with, and that oil continues to play a valuable role in Africa’s energy future.

Meanwhile, the pavilion will also promote the value of supportive legislature in accelerating energy sector growth and success. With one of the most transparent and productive regulatory frameworks in Africa, Ghana places energy-focused policy at the forefront of development.

Consequently, the country has already attracted significant investment, built against a backdrop of transparency, and aims to promote its enabling environment at the AEW 2021 pavilion.

At the pavilion, Ghana will emphasize how a market-driven, local content-focused regulatory framework is one of the key determinants to attracting investment, spurring sectoral growth, and ensuring energy developments translate into tangible benefits for local communities.

“Ghana’s pavilion at AEW 2021 will not only provide valuable insight into the country’s competitive natural gas and oil sectors, but will demonstrate how progressive legislature, market-driven policies, and transparent regulatory frameworks only serve to advance the sector. Through an enabling environment, Africa can attract international investment and increase private sector participation across multiple sectors. Ghana’s pavilion will only emphasize this further,” stated NJ Ayuk, Executive Chairman of the AEC.

AEW 2021 serves as the ideal platform whereby Ghana, among other energy nations, will be able to increase domestic exploration and production, drive investment in new and existing energy developments, and expand regional power sectors. Pavilions such as Ghana’s will showcase the best of what Africa has to offer, emphasizing both market potential and multi-sectoral investment opportunities. Unlike traditional energy conference formats, AEW 2021 focuses on networking and innovative exhibitions to drive foreign investment in Africa, initiating long-term, sustainable energy sector growth in the process.

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