BOST, SONABHY deepen energy partnership to enhance cross-border petroleum trade
Ghana’s Bulk Energy Storage and Transportation Company Limited (BOST) has renewed its partnership with Burkina Faso’s National Hydrocarbons Company (SONABHY) in a move aimed at strengthening cross-border petroleum trade and enhancing regional energy security.
The agreement follows the restoration of diplomatic ties between Ghana and Burkina Faso, facilitated by President John Dramani Mahama.
At a meeting in Accra, the two state-owned companies agreed to establish a joint technical team to assess BOST’s operational capacity and explore new avenues for efficiency and growth.
The collaboration is expected to optimise the transportation of petroleum products from Ghana to Burkina Faso by leveraging key infrastructure such as BOST’s Bolgatanga Depot and SONABHY’s recently acquired Blue Ocean Terminal in Tema.
The Managing Director of BOST, Afetsi Awoonor, reaffirmed Ghana’s commitment to supporting SONABHY in meeting its energy demands, highlighting the country’s strategic role in the regional energy market.
“BOST remains committed to deepening cooperation with SONABHY to enhance petroleum trade and ensure a more resilient supply chain within the sub-region,” Mr Awoonor stated. “The strategic use of our pipelines, river barges, the Bolgatanga Depot and the Blue Ocean Terminal will allow for a more efficient fuel distribution network, benefiting both countries,” he added.
He further noted that the renewed engagement would yield significant economic and strategic benefits by streamlining petroleum logistics, reducing operational costs, and minimising fuel shortages in Burkina Faso.
Additionally, he emphasised that increased electricity exports could bolster Ghana’s position as a key player in the West African energy market.
The Managing Director of SONABHY, Wendpanga Aimé, also expressed confidence in the strengthened partnership, highlighting his company’s financial and operational capacity.
“With a capital base of 20 billion CFA Francs, SONABHY is well-positioned to invest in long-term trade agreements with BOST. This partnership is critical to ensuring a stable and cost-effective petroleum supply for Burkina Faso,” he stated.
The partnership underscores the growing interdependence between Ghana and Burkina Faso in the energy sector, reinforcing the broader goal of regional economic integration and security.
Beyond petroleum trade, Burkina Faso has also appealed to Ghana for increased electricity exports to mitigate its power deficit. As part of the discussions, Burkina Faso’s Energy Minister, Yacouba Zabré Gouba, accompanied by SONABHY officials and executives from the country’s power utility, toured BOST’s Bolgatanga Depot and GRIDCo’s Navrongo substation.
The Burkina Faso delegation urged Ghana to consider increasing power supply to their grid, citing the need for reliable electricity to support economic growth.
Ghana’s Ministry of Energy, in collaboration with BOST and GRIDCo, is expected to assess the feasibility of expanding electricity transmission to Burkina Faso, further strengthening the energy ties between the two nations.