Ghana will soon approve a new downstream energy to address pricey financing challenges hindering the supply of petroleum products on the Ghanaian market, the country’s Deputy Minister of Energy, Mohammed Amin Adam has revealed.
Speaking at the 5th Ghana Gas Forum held in the capital, Accra, Mr. Adam said the comprehensive Gas bill is being drafted to consolidate the gas sector regulations to meet emerging international regulatory landscape.
“Government has pursued the gas sector with the intent to accelerate industrialisation, and therefore adopted the Gas Masterplan which has provided a roadmap that could position the gas industry as the leading contributor of value-added industrialisation in Ghana,” Mr. Adam said.
According to him, utilising gas for industrial development will help facilitate low-cost industrialisation – including reducing the environmental cost and other externalities associated with oil-based development.
The Deputy-Minister also noted that competitive pricing was key to deriving gas-based industrialization.