Energy Boost: Ghana Minister Seeks Competitive Financing For Natural Gas Expansion

Ghana Minister of Energy, Dr Matthew Opoku Prempeh, has emphasised the importance of competitive financing in driving natural gas projects forward ahead of his appearance at the upcoming NOG Energy Week, scheduled to take place June 30 and July 4 at the International Conference Centre (ICC), Abuja, Nigeria.

His call to action comes as many African countries were harnessing gas and other cleaner and greener energies to drive their industrialisation journey, including Ghana and Nigeria, investing in gas infrastructure and promoting its utilisation, and by extension, addressing energy poverty and environmental challenges.

To drive progress in Sub-Saharan Africa’s energy market, energy stakeholders, government officials, regulators, and key industry players are convening at NOG Energy Week 2024 to deliberate on policies aimed at meeting West Africa’s energy demand. The event was themed “Showcasing Opportunities: Driving Investment and Meeting Energy Demand.”

Prempeh said, “West Africa has to amplify the need for competitive financing to propel natural gas projects.”
Nigeria, boasting gas reserves of over 200 TCF, recently announced plans to execute a gas strategy that will trigger the nation’s industrialization and economic growth. NNPC Limited’s Executive Vice President for Upstream, Oritsemeyiwa Eyesan, shared the organisation’s plans to deepen domestic gas utilisation for power generation in a bid to support the manufacturing sector.

“To transform the energy sector in West Africa, leveraging natural gas to drive economic growth and development is key. Gas for industrialization contributes to increasing energy transition progress across the region. From revitalising key industries to fostering innovation, the strategic focus on gas underscores a commitment to propel West Africa towards a future built on energy security and economic resilience. Through the decade of the Gas Initiative by the Nigerian government, industry leaders have continually conveyed a collaborative approach aimed at unlocking the country’s energy resources.”

Speaking on what stakeholders should expect at NOG Energy Week 2024, the Country Director, Nigeria, and Portfolio Director, Africa for dmg events, Wemimo Oyelana, said, “Our commitment for almost 25 years has been to provide a platform where industry leaders can have frank conversations that offer solutions to the different challenges the industry is facing.

“NOG Energy Week has contributed significantly to key policy development and implementation over the years. We look forward to having industry stakeholders discuss pertinent issues, including attracting international and regional funding into Nigeria’s energy sector, optimising the significance of natural gas as the fuel of choice, and driving industrialization as a catalyst for economic growth.”

Expected government officials and industry leaders at NOG Energy Week 2024 are: Minister of State for Petroleum Resources (Oil), Mr. Heineken Lokpobiri; Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo; Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe; Authority Chief Executive, Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed; Group Chief Executive Officer, NNPC Limited, Mele Kolo Kyari; and Managing Director, Shell Nigeria’s Exploration and Production Company Limited, Elohor Aiboni.

Others are Managing Director and Chief Executive Officer, Nigeria LNG, Dr. Philip Mshelbila; Managing Director and Chief Executive Officer, ND Western, Eberechukwu Oji; Chairman, Nestoil Limited, Dr Ernest Azudialu-OObiejesi; Group Chief Executive, Oando PLC, Adewale Tinubu; Group Managing Director, UTM FLNG Limited, Julius Rone, and Group Chief Executive Officer, PANA Holdings, Daere Akobo, among others.