ACCRA– Ghana is drafting a comprehensive Gas Bill which is aimed at consolidating gas sector regulations and at harmonising the legal regime with the emerging global regulatory landscape, says Deputy Energy Minister Amin Adam.
The draft Bill is expected to be finalized and passed within a year, subject to Parliament’s timetable, and will consolidate the existing laws and regulations in the gas sector and also address issues which are not captured in existing legislation, he said when addressing the 5th Ghana Gas Forum here Tuesday.
Adam said the Gas Bill would address issues such as pricing of gas as well as infrastructure standards and approvals needed to ensure the safety of communities within which these gas companies operate.
He said the Energy Ministry had also identified role conflicts among institutions and agencies within the gas sector regulatory space, including the National Petroleum Authority (NPA), the Energy Commission, the Petroleum Commission and the Public Utilities Regulatory Commission (PURC).
I do not think any investor is going to be incentivised by these bureaucracies and over-regulation of the gas sector to put their money in the country, he said, adding that, the Bill would clarify the roles of these institutions and agencies.
Ghana, he said, is also expected to see significant growth in its gas sector with the addition of the Offshore Cape Three Points (OCTP) gas to that now flowing from the Jubilee and TEN fields.
The government, following the successful completion of the OCTP and flow of first gas in July 2018, had approved an amendment to the Plan of Development for the integrated OCTP oil and Gas Project. The amendment is expected to pave the way for the partners in the OCTP to continue their evaluation of the Campanian reservoirs in order to submit, in the coming weeks, options on how to develop and produce the Campanian reservoirs as part of the overall OCTP Integrated Oil and Gas project.
Source: NAM NEWS NETWORK