The Chief Executive Officer (CEO) of the Ghana Gas Company, Ben Asante says the ongoing Russia-Ukraine war presents a great opportunity for West African leaders to invest towards expanding their distribution capacities in targeting the European Market.
He said West Africa considering its proximity is in the best position to make up for the gas that is not coming from Russia following its decision to cut gas supply to Europe.
He made the remarks while delivering a public lecture at the Kwame Nkrumah University of Science and Technology on the theme “Gas commercialisation: Fostering a Sustainable Petroleum Economy, Opportunities and Setbacks.”
Dr Asante maintained that a constant and reliable supply of gas from Russia will remain an issue even when war ceases.
“West Africa because of its proximity will be the first in pole position to make up for the gas that is not coming from Russia. Even if the Ukraine-Russia war ceases there will still be some scepticism about the constant supply or reliable supply from Russia. So, West Africa should take advantage of its proximity and the difference between its production and utilisation to make up for the deficits in Europe.”
He added, “Financial resources are going to be difficult, given the fact that you want to transition from fossil fuel to renewables. But if you heard last two weeks African heads have put together to establish the African Energy Bank, so we will not be looking from outside. Even if we do, it won’t be as much as we used to do before. So, we will be looking within ourselves for the financial resources to make this happen.”
The Ghana Gas CEO says the move will enhance the sub-region’s utilisation of its gas for more commercial benefits.
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