Vice President Dr. Mahamudu Bawumia has disclosed that Ghana has set a target of 2070 to fully transition from fossil fuels to renewable energy.
According to him, though government is fully committed to achieving net zero carbon emissions by 2070, it also has to take steps to accelerate the production and utilization of Ghana’s oil and gas reserves
He averred that to reduce greenhouse gas emissions, the government needs to strike and maintain a balance in the context of social, economic and environmental requirements.
Addressing the 5th edition of the Ghana International Petroleum Conference (GhIPCon) 2022 on Wednesday in Accra, the Vice President noted that the conference theme, ‘Energy Transition in the African Petroleum Downstream Context: Prospects, Challenges and the way Forward’ is most appropriate coming on the heels of the inauguration of the National Energy Transition Committee to draft a framework geared towards achieving net zero carbon emissions by 2050.
Fossil fuels, particularly natural gas, he said, will continue to be part of Ghana’s energy mix in the short term, whilst strategies are put in place to increase the share of renewable energy in the mix from medium to long term.
He stressed the need for effective initiatives in a rapidly changing world not only in terms of energy transition but in terms of all aspects of the energy mix.
“How do we insulate the energy sector from global economic shocks, especially, considering how the Russia-Ukraine war has affected the energy sector in the last few months.”
“So, I expect this conference to become a sounding board for our governments in the West Africa region on how we can be full participants in the energy transition process while remaining faithful to the needs and aspirations of our people,” he stated.
He disclosed that President Nana Addo Dankwa Akufo-Addo as part of his commitment to the Paris Agreement and other international protocols has initiated and implemented some policies geared toward reducing carbon dioxide emissions.
He said, “Key among them are: Zero Gas Flaring Policy – Petroleum (Exploration and Production) Act 2016 (Act 919) provides for no flaring of gas except for operational safety and under exceptional circumstances.
Gas Master Plan – Recommends that Ghana focuses on gas usage for power generation and non-power use.
2020 Transport Policy – Government intends to reduce emissions through the following: use of improved vehicle technologies, better traffic management and increased use of mass transit systems.
For the petroleum downstream industry, the interventions are the reduction of sulphur content in transport and industrial fuels from a maximum of 5000ppm to a maximum of 50ppm. Ghana is one of the very few African countries as well as Tanzania, Uganda, Kenya and Morocco to be consuming low Sulphur fuels with typical imports at less than 50ppm. No more TOXIC FUELS!
National LPG Promotion Policy aims to achieve LPG penetration of 50% by 2030 through programs such as the “Cylinder Recirculation Model. Compressed Natural Gas (CNG) is also being considered for use in large commercial vehicles.”
Dr. Bawumia indicated the transition to cleaner energy is a process that will take many decades to be achieved fully as it involves a series of different trends that occur simultaneously.
The transition, he said, will result in greater demand for cleaner fuels, as well as for natural gas and LPG which may also lead to increased investment in renewable energy and the development of new technologies for the transportation and storage of energy.
The 2022 GhIPCon, he said, offers the platform for key stakeholders across the sub-region to harmonize policies and opportunities to allow the petroleum downstream industry to respond to global developments and trends consistent with member countries’ development interests.