An Energy Economist and Executive Secretary of the Public Utilities Regulatory Commission (PURC), Dr. Ishmael Ackah has underscored the need for African leaders to focus on developing the gas resources of their respective countries to spur the economic transformation of the continent.
With the ongoing global transition from fossil fuel to renewable energy, Dr. Ishmael Ackah noted that gas is a relatively clean source of energy and good complement to renewable energies.
According to him, natural gas can support the economic transformation of the continent through chemical production, fertilizer manufacturing, cement and clean cooking fuels.
Dr. Ackah observed that governments across the continent have identified natural gas as a bridge fuel for power generation and for the petrochemical industry to feed industry, enhance access and modernize agriculture.
Referring to a recent report on global gas discoveries, he said about 40 per cent of new gas discoveries occurred in Africa, an indication that Africa is endowed with gas resources.
In his view, leaving natural gas in the belly of the earth would delay or deny Africa’s chance of industrializing.
Dr. Ishmael said this in a presentation on the topic “Political Economy of the Energy Transition at the three days’ ‘Commonwealth Science Conference For Sub-Sahara Africa Fellows’ Meeting in Accra, capital of Ghana.
Dr. Ackah also underscored the need for African governments to support national oil companies to develop and implement transition readiness strategies.
Referring to a 2021 UNESCO report on research, he said the report noted that Africa’s gross expenditure on research as a proportion of GDP is about an average of 0.5 per cent compared to the world average of 2.2 per cent.
“No known country in Africa is spending one per cent of its GDP on research and development,” he quoted the report as saying.
Dr. Ackah, consequently, called on African leaders to strengthen research institutions to undertake Research & Development along the renewable energy value chain.
Source: https://energynewsafrica.com
