Commodity Market Report

Ghana energy markets long-term outlook 2019

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06 September 2019

Ghana energy markets long-term outlook 2019

Report summary

In recent years Ghana has joined neighbouring markets and started producing and exporting large volumes of gas and oil produced offshore. The revenue from the petroleum exports as well as the fuel itself has helped facilitate growth in industrial and power sectors. Ghana is no longer reliant on unreliable gas imports from Nigeria through the West African Gas Pipeline. Over the forecast, fossil fuel demand will grow significantly in the power sector (gas in particular) and the industrial sector. But growth in the availability of electricity and gas will fail to back out OSF (Other Solid Fuels) in the RCA sector as biomass remains the fuel of choice for Ghana's large rural population. Post-2020, total oil and gas production will begin to decline while demand continues to grow leading to a dramatic increase in net imports.

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