The Ghana National Petroleum Corporation (GNPC) and Shell Energy Ghana have renewed their commitment to enhancing Ghana’s energy security by focusing on liquefied natural gas (LNG) supply, expanding renewable energy initiatives, and exploring deepwater oil reserves.
GNPC CEO Edward Abambire Bawa and Shell Energy Ghana MD, Brian Muriuki, met on Monday where Shell provided updates on its 99% complete thermal LNG project and discussed expanding its gas supply infrastructure in the West African country.
Bawa, who has promised to reform Ghana’s oil and gas sector, explained the importance of natural gas in the country’s energy future, stating:
“Gas is the way forward if Ghana is to fully optimize and gain more value from its hydrocarbon resources. Ghana needs more gas to meet its energy demands.”
Shell, which has been supplying LNG since 2019, also highlighted its 20% stake in the West African Gas Pipeline and plans to secure additional gas sources for Ghana.
The company noted that despite global energy transition efforts, hydrocarbons will remain essential to Ghana’s energy security.
Shell further listed its renewable energy strategy alongside LNG projects, including a 15-MW solar project and plans for further investments in clean energy, a key area that the government has been seeking investors to develop.
The company alsointerest in collaborating with key stakeholders to enhance energy affordability and support Ghana’s shift to a diversified energy mix.
Shell also revealed its interest in deepwater exploration, confirming preliminary discussions with the Petroleum Commission. Brian Muriuki emphasized the potential of Ghana’s upstream sector, saying:
“Despite the global energy transition, hydrocarbons will continue to play a key role in Ghana’s energy security, and we see great potential in deepwater exploration,” Shell said.
GNPC welcomed Shell’s interest in exploring new investments, with both parties committing to advancing LNG supply, expanding renewables, and driving sustainable oil and gas development in Ghana.
Although Ghana’s crude oil export saw a marginal decline in 2024, its oil production increased for the first time in five years.
In the first half of 2024, Ghana’s oil output climbed by 10.7% to reach 24.86 million barrels, representing a 13.2% increase compared to the same period in 2023.
This remarkable increase was due to the commencement of operations at the Jubilee South East (JSE) project operated by Tullow, a foremost player in Ghana’s oil and gas industry that recently won a tax evasion case against the government.
