The Ghana National Petroleum Corporation (GNPC) and its industry partners have committed more than $3.5 billion in investments to expand oil and gas production as Ghana works to meet rising energy demand and strengthen long-term energy security.
Speaking at the West Africa Gas Summit (WAGS) 2026 in Accra, GNPC’s Deputy Chief Executive Officer for Finance, Commercial and Administration, Hamis Ussif, revealed that partners in the Jubilee and TEN fields have pledged $2 billion by 2028 to increase both oil and gas output. Additionally, partners in the Sankofa field have committed a further $1.5 billion primarily to boost gas production.
According to Mr. Ussif, the planned investments are aimed at enhancing domestic energy supply and supporting the country’s growing economic and industrial needs.
“We are working with the Jubilee and TEN partners to increase investment. They have committed to $2 billion investment by 2028 to increase both oil and gas production. We are doing the same with the Sankofa partners where they have committed $1.5 billion to also increase gas production mainly,” he stated.
Despite these commitments, Mr. Ussif cautioned that Ghana could still face a significant gap between gas supply and demand in the coming years as consumption continues to rise.
He disclosed that national gas demand is projected to reach approximately 840 million standard cubic feet per day by 2030 and increase further to one billion cubic feet per day by 2036.
“By 2030, we are looking at around 840 million standard cubic feet per day, and by 2036, we are looking at hitting one billion cubic feet of demand per day,” he said.
Mr. Ussif explained that domestic gas production, even when combined with imports from Nigeria through the West African Gas Pipeline, would not be sufficient to satisfy future demand levels.
“From our projections, we can’t meet this from domestic production, nor even with imports from Nigeria. That’s why we are working with partners to import LNG,” he noted.
To address the anticipated shortfall, GNPC is advancing plans to operationalise a Liquefied Natural Gas (LNG) import terminal in Tema. The facility, which is approximately 95 percent complete, is expected to supplement local gas production and support energy needs within Ghana and across the West African sub-region.
“We will import the LNG and then be able to feed the demand in Ghana, but also to feed demand in the sub-region,” Mr. Ussif explained.
He emphasized that the investments form part of broader efforts to ensure a reliable and sustainable gas supply for electricity generation, industrial development, and Ghana’s ambition to position itself as a regional energy hub.
The commitments announced at WAGS 2026 underscore the growing importance of natural gas in Ghana’s energy strategy and the critical role of continued investment in securing the country’s future energy needs.
Source: Citinews
