The quest to make Ghana a petroleum hub has begun as the government is currently working on a Petroleum Transportation Infrastructure Master Plan, aimed at enhancing the pace of infrastructure construction to serve the sub-Regional petroleum industry, the Vice President, Dr. Mahamudu Bawumia, has said.

The Ministerial Committee working on this Master Plan has finalized its work. And ready to present its findings to the Economic Management Team and subsequently to the Cabinet for consideration to allow for the commencement of the first phase of new pipeline infrastructure projects to complement existing infrastructure; and thereby, ease the movement of petroleum products from Tema through Akosombo, to Dabire, Buipe, and Bolga.

This the Vice President said will facilitate the development of alternative transportation infrastructure for petroleum products such as railway lines, pipelines, and river barges to major demand-centers across the country.

These infrastructure developments will also link Ghana with the sub-Regional markets and further deepen regional integration agenda as well as to fulfill the objectives of the African Continental Free Trade Agreement. He said the country’s unique geographical position; democratic stability and security require that the nation provide leadership in building an integrated infrastructure to serve the sub-Regional petroleum industry.

Ghana has been hard at work, trying to turn the country into the sub-regions petroleum hub by 2030.

Expected cost US$60 billion, the hub, is expected to be established in the Western region will include refineries, petrochemical plants, power plants, light industry, waste, and water treatment facilities among others.

To make the vision a reality, the Vice President urged the private sector to take advantage of the favorable petroleum market environment and invest in infrastructures such as oil jetties, pipeline and distribution infrastructure, refineries, gas processing plants, storage, and loading gantries.

To assure investors, the Vice President said, the security of natural gas supply as feedstock for petrochemical plants is a priority for the Government. Procurement of natural gas from domestic sources already secured under regulations governing the Domestic Supply Obligations of Upstream gas producers. As a country, our vision for the petroleum downstream industry is to ensure Ghana becomes a key player in the downstream petroleum industry in the West African Sub-region.