Tech transfer, others key to achieving net-zero — Opoku Prempeh

The Minister of Energy Dr Matthew Opoku Prempeh says the collective effort at achieving net-zero in line with the Paris agreement must be premised on technology transfer, infrastructure development and deliberate finance scheme.

Such a priority, the minister said was key to achieving the net-zero.

At a Ministerial Session at the 24th World Petroleum Congress (WPC) in Canada on the theme, “Energy transition and what it means for your country,” Dr Opoku Prempeh said the energy transition conversation was confronted with militating factors.

He mentioned those factors to include limited technological capacities, low productivity, weak capital markets and high input costs.

The congress serves as a catalyst for vital conversations with key industry trailblazers and decision makers that influence the future of the energy industry for the benefit of all.

Every three years, the WPC Energy hosts the prestigious congress in one of its member countries.

As a global strategic and technical gathering, the congress attracts the biggest names from the energy industry to focus on delivering an accessible, affordable and secure energy transition.

Energy deficit

“Additionally, Africa is particularly saddled with high energy deficit, inadequate human capital and lack of green energy infrastructure.

“Currently, about 600 million people are without access to electricity in Africa.

Without a clear and purposeful drive towards cheaper electricity, the figure will rise to 800 million by 2030, while the continent sits on what shall effectively become stranded assets.

“Our position is that, we cannot starve in the midst of plenty,” he said and called for deliberate efforts to address those challenges.

The Energy Minister added that, “Ghana is of the uncompromising view that an energy transition plan worth its salt must take into perspective all the sectors of our economies with deliberate efforts channelled at achieving decarbonisation, energy security, access and efficiency to accelerate industrialisation and yet lower carbon dioxide emissions and energy demand.”

The minister said Ghana continued to pitch a narrative for the linkages between upstream and downstream to be established on the continent to ensure value maximisation and retention.

“Expanding the refining capacity and storage for crude oil and petroleum products and providing the appropriate infrastructure for petrochemical production and transportation of gas and petroleum products will, to all intents and purposes, provide these linkages,” Dr Opoku Prempeh said.

The Manhyia South lawmaker stressed that oil and gas exploration and production would be continued in the next few decades to ensure the availability of natural gas for those purposes.

“We are cognisant of the implications of hydrocarbons on the environment and have already included Carbon Capture and Storage and other green interventions in our Energy Transition Framework to duly take care of emissions” he added.