Ghana is one of a few Sub Saharan African countries that holds the highest potential to become a ‘niche’ market for liquefied natural gas to feed power plants as the world faces a growing surplus of the fuel, according to BMI research.

“In the face of reduced offtake from traditional buyers” in northeast Asia, Ghana holds potential as a new market, the research said.

According to the research, Ivory Coast and South Africa are also two Sub African countries that have good potential for LNG.

South Africa’s Department of Trade and Industry created a gas industrialization unit in May, which will initially focus on importing LNG as part of a gas-to-power program to add 3,126 megawatts of capacity between 2019 and 2025. Ghana earlier this year signed a deal with Quantum Power for construction and operation of LNG storage and regasification facilities.

Ivory Coast and Ghana have “the most prospective markets for integrated LNG-to-power projects” with plans already in place and room for further growth within BMI’s 10-year forecast period. The BMI research stated emphatically.

By Musah Abelyire/ghanaguardian.com