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21.03.2012 Business & Finance

Partners meet to discuss harnessing gas for sub-regional development

By GNA
Partners meet to discuss harnessing gas for sub-regional development
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Accra, March 21, GNA – A two-day forum aimed at providing a platform for decision-makers to discuss gas market development opportunities, challenges as well as solutions would be opened on Wednesday in Accra.

The forum would also offer stakeholders in the industry the chance to discuss the importance of the regional energy market, the role of organisations such as Economic Community of West African States (ECOWAS) and the energy needs of Nigeria, Ghana, Togo and Benin, a release from the World Bank (WB) copied to the Ghana News Agency on Tuesday said.

It said other topics to be discussed include the development of gas resources in Nigeria and Ghana, gas development plans of some regional gas producers and supply projections in the West African sub-region.

“It will also examine gas infrastructure development in the sub-region as well as private sector financing of energy projects,” the release added.

The forum, which is being organized by the WB and the West African Gas Pipeline Company in collaboration with the ECOWAS, the West Africa Gas Pipeline Authority and Volta River Authority, is expected to attract more than 120 participants from 15 countries including Ghana.

The release described the meeting as West Africa's first ever Gas Stakeholders Engagement Forum adding that a number of recent developments have generated great interest in the natural resource.

“These are the recent gas discoveries in West Africa, the availability of natural gas in the sub-region and lowered cost of electricity generation due to the use of gas,” it said.

It added that there was an increasing desire to understand the evolving regional gas supply and demand situation and the need for regional integration to the advantage of all concerned.

The release said the forum was to help participants to foster the development of a

sub-regional gas market for economic growth. It is also intended to build upon the completion of the West African Gas Pipeline Project, which has enabled the supply of Nigerian gas to Benin, Togo and Ghana.

The West African Gas Pipeline Project, a flag ship project, is a joint initiative between the governments of Nigeria, Benin, Togo and Ghana under the auspices of ECOWAS.

GNA

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