The Minister for Energy, Matthew Opoku Prempeh, has announced the signing of Phase One of the Petroleum Hub Project.
This agreement was formalized on Tuesday, 18th June, 2024 between the Petroleum Hub Development Corporation and the TCP-UIC Consortium, which includes Touchstone Capital Group Holdings Ltd., UIC Energy Ghana Ltd., China Wuhan Engineering Co. Ltd., and China Construction Third Engineering Bureau Co. Ltd.
The Minister expressed his delight in witnessing the event, describing it as a significant stride toward fulfilling President Nana Addo Dankwa Akufo-Addo’s vision for Ghana’s energy sector.
The Petroleum Hub Project soughts to create a modern, diversified, efficient, and financially sustainable energy economy in Ghana.
“This event marks a significant step, pursuant to the realization of a vision that His Excellency President Nana Addo Dankwa Akufo-Addo holds dear,” Prempeh stated.
The project according to the Minister aspires to be Africa’s leading integrated petroleum and petrochemical complex, enhancing value across the oil and gas value chain.
It will cater to both upstream and downstream operations, driving development and creating numerous economic opportunities.
The Minister emphasized the project’s potential, noting its capability to transform the energy landscape of the continent.
Matthew Opoku Prempeh also acknowledged the contributions of his predecessors and various allied agencies, underscoring the collaborative effort involved.
He assured that the Ministry of Energy would continue to offer essential policy direction and support to ensure the project’s success.
“The Ministry of Energy will continue to provide the needed policy direction and guidance to ensure the successful execution of phase one,”
Prempeh remarked, emphasizing that the completion of this initial phase would pave the way for subsequent stages of the project.
