THE Sekondi Takoradi Chamber of Industry and Commerce and the Ghana National Petroleum Corporation (GNPC) spent the first day of their trade mission to TT at a breakfast meeting hosted by the Energy Chamber at Cara Suites Hotel, Claxton Bay on Tuesday.
In a PowerPoint presentation, GNPC general manager Dr Kwame Amoah Baah- Nuakoh said his country’s natural gas sector was not yet “walking” and would welcome TT investors to assist in its development.
Speaking to reporters afterwards, he reiterated that Ghana’s gas industry is “young,” saying there were people in the Energy Chamber who have more experience in the sector and that TT is a “good place to come and learn.”
He said one of the challenges facing the sector was local content and Ghana was learning from its more experienced neighbours, such as Nigeria.
“The whole concept of local content, how does the industry affect the livelihoods of the local people, we – because we are close to Nigeria – we know the challenges that Nigeria have and we are closer in terms of culture and we are trying to be more proactive rather than reactive,” he said.
He said the other measures which Ghana required assistance was in its petroleum agreements, saying the country had deliberately put the measures online in the hopes that someone with greater experience would assist in amending them to meet the country’s needs. “You don’t have the capital, others will bring the capital, and what percentage of that money should come to you and what percentage should they carry away...we are learning and that’s why the fiscal terms of this petroleum agreement are important, to see what other countries have put in their petroleum agreements,’ he said.
Saying local content was important, he said some of the questions Ghana needed help in answering were: “How is the oil revenue being managed – because we have an Oil Revenue Management Act; who would specify what we use the money for, is there a best practice out there?” The trade mission is expected to leave on Saturday.