The CEO of the NPA, Ghana’s petroleum downstream regulator, Dr Mustapha Abdul-Hamid, has underscored the need for African nations to double efforts in dealing with the challenges arising out of the energy transition.
“As the world looks to accelerate its transition away from fossil fuels, the pressures on our industries are mounting.
“We are all exposed to the global energy transition, as our countries depend on oil and gas revenues,” Dr Mustapha Abdul-Hamid said while delivering a welcome address at this year’s Ghana International Petroleum Conference (GHIPCON) 2022 in Accra.
This year’s GHIPCON is under the theme: ‘Energy Transition In the African Petroleum Downstream Context: Prospects, Challenges and the way forward’.
He continued: “The reality of fulfilling the energy transition commitment is that there will be further pressure on government spending to ensure that our diversification process meets global needs.
“It is, therefore, imperative that we intensify our efforts,” he said
While pointing out the need for Africa to double efforts in terms of strategies to overcome the pressures on government spending, Dr. Abdul-Hamid said: “It is not just about the pace of change. It is also about the scale of change.”
Dr. Abdul-Hamid observed that one of the things that could help accelerate net zero emissions was for the government to develop regulations and incentives which would allow companies to commercialise more rapidly their low and zero-carbon solutions.
He noted the demand for transportation fuels would wane over the longer-term, or rapidly decline—depending on two variables: policy and technology innovation.
In this regard, Dr. Abdul -Hamid charged the participants to use this year’s GhiPCon to deliberate action on the key issues with a focus to devise strategies for deployment.
Source: https://energynewsafrica.com