Plans are still ongoing to make Ghana, an exporter of crude oil, a petroleum hub in the sub-region by 2030. The hub, which will be established in the Western Region, the region where the oil was discovered in Ghana, is expected to cost around US$60 billion.
The hub will be a host to facilities which include refineries, petrochemical plants, power plants, light industry, waste and water treatment facilities, storage facilities, and business and residential centres.
With a location scouted and feasibilities being undertaken, industry analysts believe that the hub should not just create jobs but also establish a sustainable means of refining local crude, create the environment for synergies between public and private to flourish, and unify all three spheres of the petroleum industry: upstream, midstream and downstream.
The private sector has been urged to participate in the formulation and implementation of policies that will make this dream possible.
CEO of African Energy Consortium, Kwame Jantuah, recently called on the private sector at a forum in Accra not to leave the petroleum hub dream in the hands of politicians alone.
“We need the private sector to be part and parcel of it from the word go. We are talking about refineries, petrochemical plants, light industries; which private sector players can do any of these? If we do not sit down and put these things on paper and invite the private sector in, we will start this thing and, unfortunately, it will end due to the kind of politics we practice in this country,” he said.
CEO of AI Energy, Abigail Asolange Harlley also called on the formulation of strong regulatory body to guide the activities of the future hub. “A hub of this nature should see government put in place a coherent, comprehensive and clearly-defined regulatory framework that will spell out the roles of both government and private sector. Also, a regulatory authority must be established to be mandated with a one-stop service for the entire sector, to ensure the vision of government is achieved seamlessly,” she said.
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