Ghana with the little crude oil discovered so far is set to compete with Nigeria to make an impact in the energy sector within the West Africa region with plans to supply Liquefied Petroleum Gas (LPG) to Benin Republic and electricity to Nigeria, Mali and Togo.
This is Ghana's first move to explore the sub-regional energy market. According to the new President Mr. John Dramani Mahama, the country has embarked on a project to retool the energy sector that would enable Ghana to supply liquefied gas and substantial electricity to Benin and other West African countries.
However, Mahama said Ghana would also collaborate with her neighbours to share their comparative advantages that would enable it produce for both domestic and external consumption.
According to him, Ghana plans to increase the country's installed power generation capacity from approximately 2,000 megawatts (mw) to 5,000mw as it explores ways of making energy a fundamental right of all citizens.
The thinking is that, if they are able to supply the extra 3,000 mega watts to Lagos, it would go a long way in taking care of power in the commercial city, the biggest in West Africa.
In increasing its generation capacity, the government said it planned to become a net exporter of power by 2015. It is targeting neighbouring West African countries, including Nigeria, Togo, Mali and Benin Republic, as markets and that $1.7 billion would be required to meet the country's quest for universal access to electricity supply.
According to government official, Ghana had received $966.55 million from bilateral and multilateral institutions for the project. 'There was a shortfall of $729 million, for which reason support from the MCA Compact II would be helpful. The other part of the 400 megawatt Bui Dam is expected to be completed by 2013' he said.