Dr Benjamin K.D. Asante, the CEO of Ghana Gas Company, is encouraging African leaders to capitalize on the Russia-Ukraine conflict to expand gas distribution to Europe.
During a public lecture at the Kwame Nkrumah University of Science and Technology’s College of Engineering, themed “Gas Commercialization: Fostering a Sustainable Petroleum Economy, Opportunities and Setbacks,” he highlighted the need for investment in key proposals to achieve this goal.
“Africa contributes about 10-15% of the total world gas production but uses only 5-6% throughout the continent. West Africa is better positioned to lead Africa in the effort to replace the Russian gas supply in Europe based on its proximity and collective resources.
“Two pipeline transportation routes have been proposed to transport West Africa’s excess gas to Europe and if West African nations invest in this proposal, Africa will stand ready to fill the vacuum created by Russia,” he said.
Dr Asante again recommended the need for the continent “to create composite sustainable gas supply sources or hubs that are reliable and secured handling and transportation infrastructure.
It should also provide enabling fiscal and tax regimes to attract the required investment (both locally & internationally) for the installation of the requisite infrastructure”.
Additionally, he stressed the importance of local capacity building and the development of appropriate policies for a sustainable gas industry in Africa.
“While we work to develop a master plan or roadmap for guiding the development of these sectors, let’s ensure there is a clear and appropriate Institutional and Regulatory framework.
“We need to also promote the building of local intellectual capacity for the sustainability of the industry. There should be a significant push between academia and industry to close the gap of insufficient human resources with the requisite expertise,” he said.
Source: Myjoyonline.com
