- Andrew Egyapa speaks on the need to consider stranded oil assets in the energy transition.
Deputy Energy Minister, Hon. Andrew Egyapa Mercer emphasises the importance for Ghana to consider several important factors in the global conversation about the energy transition. He highlighted that the country risks sitting on stranded oil assets that are key to its development agenda.
He made this call when addressing a town hall engagement in Takoradi as part of the national conversation currently underway. Hon. Mercer, the MP for Sekondi, stated that whilst Africa remains the lowest emitter of carbon globally, stringent and rigid transition policies towards clean energy will affect oil and gas industries and the overall economy.
“The Ghanaian economy is no exception. The objectives of a National Energy Transition Plan should, however, take into consideration the peculiar circumstances of Ghana’s abundant natural resources and her development needs as articulated by President Akufo-Addo in Glasgow, Scotland, during the COP26 conference earlier this year”, the Deputy Minister said.
He added that Ghana’s transition plan should therefore seek to position the oil and gas industry to play a more significant role in the country’s development. This, he said, can be done through increased production of crude oil to generate more revenue and increased value addition to the economy through power generation and petrochemical industrialisation, for instance.
On Tuesday 22nd February 2022, the Vice President, HE Alhaji Dr Mahamadu Bawumia, launched the National Energy Transition Forum in Accra to set the ball rolling on a national conversation on energy transition.