Ghana is expanding and diversifying its energy sources after experiencing a severe energy crisis in 1997 and 1998. The country will receive a tremendous boost in its industrial infrastructure and energy demand as a recipient of natural gas from Nigeria through the West African Gas Pipeline (WAGP) which will deliver natural gas from Nigeria to markets in Ghana, Benin, and Togo. This project will make a major contribution to regional integration and economic development.
Petroleum Regulatory Structure
The Minister of Energy is responsible for the government’s regulatory policy. The national oil company, Ghana National Petroleum Corporation (GNPC), is responsible for managing the country’s production and importing the country’s crude and refined petroleum products requirements. The government has undertaken an ambitious restructuring programme for GNPC to enhance its competitiveness in a free market environment. Phase one of the programme will be the separation of the company’s industrial activity from its trading functions, including the importation of crude oil and other products. Phase two will be the establishment of a gas affiliate which will manage the company’s project to produce gas in the Tano basin. The gas will supply a 130 MW power station located on the western coast of Ghana.
Improved petroleum regulatory policies aligned with good governance, sustained higher oil prices, and increased regional integration and cooperation will make the petroleum industry a vital instrument for the economic development of the citizens of West Africa.
http://www.times-publications.com/publications/corporate_africa/articles/oil_gas2.html
