Russia aims to secure its…
Hedge funds slashed their bets…
According to Ghana’s Alliance for Accountable Governance (AFAG), monopoly and nationalization in the country’s natural gas industry are responsible for the persistent shortages of liquefied petroleum gas in the country.
AFAG executive member David Opoku told journalists at a press conference, "Even if they were to import 5,000 metric cubic tons per day, as they are now planning to do, shortage of gas within the past nine months wouldn't have risen. The country has a storage capacity of 7,000 metric cubic tons, but currently, the government is importing only 1,500. Why can't they import 5,000 and ensure the regular supply of gas in the country? As we speak now, gas companies are under stress, because imports come today, it doesn't come tomorrow.
This is affecting industries and national security at large. The consistent inconsistencies being displayed by the NDC-led Government in the management of the petroleum sector is a demonstration of their incompetence. We cannot call on the governments of latter day for solutions. It is time to go ahead at full throttle with the gas infrastructure programs. It is indeed sad that for several months now, Ghana continues to flare associated gas at the Jubilee Field, which has 600 million barrels of proven reserves, and a potential for about 1.5 billion barrels of oil. Apart from the waste and loss in revenue, its associated health implications, in terms of the emission of dangerous chemicals released into the air, sea and the eco-system, could spell serious health problems for Ghanaians, and also contribute to the current challenges of global warming," Accra’s The Ghanian Chronicle reported.
By. Charles Kennedy, Deputy Editor OilPrice.com
Charles is a writer for Oilprice.com