• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, July 8, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

COP26: A Just Energy Transition for Ghana should be Natural Gas Tolerant

October 26, 2021
Stephen M.Cby Stephen M.C
in Extractives/Energy, Sub Top Stories, Sub Top Stories2
0
COP26: A Just Energy Transition for Ghana should be Natural Gas Tolerant

Liquid chemical tank terminal, Storage of liquid chemical and petrochemical products tank, Aerial view.

Over the past years, fossil fuels have been found guilty of causing global warming and countries developing such resources have come under intense pressure to abandon them. However, the same metric is being used for all countries, without considering the devastating consequences they may have on them.

That said, to ensure the transition is just for countries such as Ghana, it must be natural gas tolerant, since it is considered cleaner than oil. The global energy transition cannot be all about renewable energies, which themselves are expensive and unreliable at best. While some countries have built the muscles and technologies to rapidly accommodate renewable energies more widely, it is not so for developing economies like Ghana.

Besides, such countries are among the largest emitters of greenhouse gases that threaten the planet, and if there is any urgency to abandon such gas resources, these countries should rather be in that position to reduce their carbon footprints, at least to appreciable levels.

RelatedPosts

Sam Jonah Defends E&P $100 million Gold Project Deal 

NPP Minority Rejects Mahama Administration’s Claim on Eban-Akoma Discoveries 

BRICS Urges Western Nations to Finance Global South’s Energy Transition 

Like its peers in the sub-region, Ghana lacks carbon efficient technologies to transition to lower carbon emissions rapidly. Therefore, by abandoning its gas resources for renewable energy alternative exclusively, this will lead to insurmountable energy security and poverty challenges.

For instance, Ghana’s carbon dioxide (CO2) emissions per capita stood at 0.56 tons, equivalently 16.8 million tonnes as of 2019 while China and the US alone emitted roughly 45 per cent of total global CO2 emissions in the same year.

carbonl
Gas escaping from chimneys

However, the push has been for oil and gas producing countries to abandon their gas reserves in the ground for a renewable energy alternative. Worse still, the large emitters of greenhouse gases continue to remain at the top of the chart.

The Energy Transition should be based on a country-by-country approach

 While it is totally agreeable that, for the sake of the rapid global warming, urgent actions must be taken, that does not suggest all countries should approach the transition in the same manner, as it is currently heralded.

As the African Energy Chamber (AEC) put it: what will happen if a country like Ghana succumbs to the pressure to leave its natural gas resources in the ground and do not monetize it for the benefit of its people?

“Certainly, there will be some positive consequences. [Ghana] will attract praise from multilateral institutions such as the United Nations Framework Convention on Climate Change (UNFCCC) and the International Energy Agency (IEA) and non-governmental organizations (NGOs) such as Greenpeace.

“We’ll get some good press coverage. Maybe it will be enough to convince private investors to build new wind farms and solar parks. Maybe it will be enough to remind the world’s most advanced economies of their unfulfilled promise to mobilize US$100 billion worth of funding per year for climate mitigation.

“But will it be enough to make up for the 6,000 MW of new gas-fired generating capacity that we don’t build? Will it be enough to eliminate the power shortages that have bedeviled [Ghanaian] businesses, forcing many of them to buy diesel generators just so they can keep running? Will it be enough to make blackouts a thing of the past for city dwellers who just want a better life for their families? Will it be enough to bring electricity to rural communities that have yet to be connected to the national grid?”

Africa Energy Chamber, AEC
Ghana, Africa’s voice must heard at the COP26 loud and clear

Refreshingly, Dr. Ben K.D. Asante, the Chief Executive Officer of the Ghana National Gas Company (GNGC) is cited to have said:

“I don’t think that the transition period is going to end in 2040 or 2050, I think it’s going to be longer. I think fossil fuels would stick with us longer than some of the other countries are projecting but as we transition, gas will trump oil, gas is the best bet.”

Dr. Ben K.D. Asante, CEO, Ghana National Gas Company
oil
Oil well

The vast amount of Ghana’s Natural Gas reserves is roughly 6.4Trillion Cubic Feet (TCF) with 2.2TCF of associated gas and 4.2TCF of non-associated natural gas. For the first half of 2021, the cumulative raw gas production was 127,496.04million standard cubic feet (MMscf).

This reflects a 9.56 percent increase over the volume of 116,373.39 MMscf produced for the same period in 2020, and the highest recorded half-year volume since 2014. Production from Jubilee, TEN and Sankofa Fields increased by 10.6, 12.8 and 7.42 percent respectively over the period. These present opportunities for Ghana to address its developmental challenges, should it monetize these increasing natural gas resources.

With the COP26 about to take place in November 2021, the region’s voice must be heard loud and clear. Ghana and its peers should be allowed to develop their natural gas resources for the benefit of their people while gradually adopting renewable energies alongside to aid in a robust transition.

READ ALSO: Fiscal Consolidation, Key in Addressing High Lending Rates – BoG Governor

Tags: CO2Energy transitionGreenhouse gasesNatural gasRenewable energies
Please login to join discussion
Previous Post

Rising Demand for Cybersecurity Professionals, Experts Required for Digitalization Agenda – Hon. Ursula Owusu-Ekuful

Next Post

IGP Lauded for Engaging Religious Heads on the Laws in the Country

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

GSE Bulls Charge Back: Energy, Telecom and Financial Stocks Lead Market Rebound
Securities/Markets

GSE Bulls Charge Back: Energy, Telecom and Financial Stocks Lead Market Rebound

July 8, 2025
Andy Appiah-Kubi, Party, Ghanaians
General News

Former NPP MP Applauds NDC’s Interim Economic Management

July 7, 2025
Ernest Yaw Kumi, Dceased MP for Akwatia
General News

Parliament Grieves Loss of Akwatia MP 

July 7, 2025
Iran’s Pezeshkian In Iraq For State Visit
Asia

Iran Open To Dialogue With US Provided Trust Is Established

July 7, 2025
CalBank Marks 35 Years of Values-Driven Growth Wit Red Week Reflections
Banking

CalBank Marks 35 Years of Values-Driven Growth With ‘Red Week’

July 7, 2025
Sam Jonah Defends E&P $100 million Gold Project Deal 
Extractives/Energy

Sam Jonah Defends E&P $100 million Gold Project Deal 

July 7, 2025
GSE Bulls Charge Back: Energy, Telecom and Financial Stocks Lead Market Rebound
Securities/Markets

GSE Bulls Charge Back: Energy, Telecom and Financial Stocks Lead Market Rebound

by Stephen M.CJuly 8, 2025
Andy Appiah-Kubi, Party, Ghanaians
General News

Former NPP MP Applauds NDC’s Interim Economic Management

by Silas Kafui AssemJuly 7, 2025
Ernest Yaw Kumi, Dceased MP for Akwatia
General News

Parliament Grieves Loss of Akwatia MP 

by Evans Junior OwuJuly 7, 2025
Iran’s Pezeshkian In Iraq For State Visit
Asia

Iran Open To Dialogue With US Provided Trust Is Established

by Comfort AmpomaaJuly 7, 2025
CalBank Marks 35 Years of Values-Driven Growth Wit Red Week Reflections
Banking

CalBank Marks 35 Years of Values-Driven Growth With ‘Red Week’

by Stephen M.CJuly 7, 2025
Sam Jonah Defends E&P $100 million Gold Project Deal 
Extractives/Energy

Sam Jonah Defends E&P $100 million Gold Project Deal 

by Prince AgyapongJuly 7, 2025
GSE Bulls Charge Back: Energy, Telecom and Financial Stocks Lead Market Rebound
Andy Appiah-Kubi, Party, Ghanaians
Ernest Yaw Kumi, Dceased MP for Akwatia
Iran’s Pezeshkian In Iraq For State Visit
CalBank Marks 35 Years of Values-Driven Growth Wit Red Week Reflections
Sam Jonah Defends E&P $100 million Gold Project Deal 
[/vc_row_inner]

Recent News

  • GSE Bulls Charge Back: Energy, Telecom and Financial Stocks Lead Market Rebound
  • Former NPP MP Applauds NDC’s Interim Economic Management
  • Parliament Grieves Loss of Akwatia MP 
  • Iran Open To Dialogue With US Provided Trust Is Established
  • CalBank Marks 35 Years of Values-Driven Growth With ‘Red Week’
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.