Dr. Benjamin K.D. Asante, the Chief Executive Officer of Ghana Gas Company Limited, has urged African leaders to seize the opportunity presented by the Russia-Ukraine conflict to expand gas distribution to Europe.

Speaking at a public lecture at the Kwame Nkrumah University of Science and Technology’s College of Engineering, themed “Gas Commercialization: Fostering a Sustainable Petroleum Economy, Opportunities and Setbacks,” in the Ashanti Region Dr. Asante emphasised the need for investment in strategic proposals to achieve this goal.

“Africa contributes about 10-15% of the total world gas production but uses only 5-6% throughout the continent,” Dr. Asante noted.

“West Africa is better positioned to lead Africa in the effort to replace the Russian gas supply in Europe based on its proximity and collective resources.”

Dr. Asante recommended that Africa create composite sustainable gas supply sources or hubs with reliable and secure handling and transportation infrastructure.

He also emphasized the importance of implementing favourable fiscal and tax regimes to attract the necessary local and international investments for developing the required infrastructure.

Additionally, Dr. Asante stressed the significance of local capacity building and the development of appropriate policies for a sustainable gas industry in Africa.

“While we work to develop a master plan or roadmap for guiding the development of these sectors, let’s ensure there is a clear and appropriate institutional and regulatory framework,” he added.