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Ghana readies new Gas Act

Ghana's Vice President Mahamudu Bawumia confirmed on Thursday that work will shortly conclude on adjusting the existing Gas Master Plan ahead of its repackaging to Parliament for passage of the new Gas Act to regulate the industry.

The overhaul will create an enabling and competitive environment by incentivising investors to bring in innovative technologies, he said.

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“The Ministry of Energy recognises the need for regulatory certainty and predictability in the gas market and to ensure institutional re-alignment within the midstream gas sub-sector,” Bawumia added.

Bawumia said he understood why petrochemical investors needed security of gas supply, indicating that indigenous gas output had already been secured under the domestic supply obligations imposed on upstream producers.

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