Ghana’s US$3.5bn gas push still falls short of 2030 demand – GNPC warns
Ghana’s planned expansion of domestic gas production will still be insufficient to meet projected national demand by 2030, leaving the country dependent on Liquefied Natural Gas imports to secure supply, the Ghana National Petroleum Corporation has warned.
Deputy Chief Executive Officer of GNPC, Hamis Ussif, said nearly US$3.5 billion in planned investment commitments from industry partners is expected to significantly expand Ghana’s gas infrastructure and production capacity.
But he cautioned that the investment pipeline, while important, will not close the country’s medium-term gas supply gap.
“Even with the approximately US$3.5 billion investment being committed by our partners, Ghana will still not be able to meet its gas consumption demand by 2030. We will still require LNG to bridge the gap and ensure energy security,” he said.
Mr Ussif was speaking at the West Africa Gas Forum in Accra, where policymakers, industry operators and energy sector stakeholders discussed the region’s gas development outlook and the role of domestic resources in supporting power generation and industrialisation.
His comments point to the growing pressure on Ghana’s energy system as demand from electricity generation, industry and other productive sectors continues to rise faster than domestic gas supply growth.
Gas remains central to Ghana’s power sector, with thermal plants depending heavily on reliable fuel supply to support generation. Any shortfall in domestic supply risks increasing pressure on the power system, raising fuel costs and exposing the country to future supply disruptions.
GNPC is therefore pursuing what Mr Ussif described as a dual-track strategy: increasing indigenous gas production while maintaining LNG imports as a supply buffer.
The strategy reflects a wider policy challenge for Ghana. While the country has made progress in developing domestic gas resources from offshore fields, demand growth, infrastructure constraints and upstream investment timelines mean local production alone may not be enough to guarantee energy security within the next few years.
Mr Ussif said LNG will remain necessary to bridge the gap between expected domestic output and projected consumption, particularly as Ghana seeks to support industrial expansion and improve reliability in the power sector.
Beyond existing offshore resources, GNPC is also preparing a renewed push into frontier exploration.
Mr Ussif disclosed that the corporation is actively seeking strategic investors for the development of the Voltaian Basin, one of Ghana’s largest untapped hydrocarbon prospects.
“GNPC is open to partnerships to develop the Voltaian Basin. Once commercialised, it will become Ghana’s first onshore oil and gas field,” he stated.
The Voltaian Basin has long been viewed as a potentially transformative asset for Ghana’s upstream petroleum industry. Successful commercial development could diversify the country’s petroleum resource base beyond offshore production and open a new chapter in onshore oil and gas exploration.
GNPC believes attracting fresh upstream capital will be critical to strengthening long-term energy security, particularly at a time when global financing for fossil fuel projects is becoming more selective and capital-intensive.
For Ghana, the issue is both economic and strategic. A secure gas supply is essential not only for electricity generation, but also for industrial policy, fertiliser production, manufacturing and the broader agenda to reduce dependence on imported fuels.
However, the warning from GNPC suggests that Ghana’s gas strategy must balance ambition with realism. The country will need to accelerate local production, expand infrastructure, attract private investment and maintain import flexibility if it is to avoid future supply gaps.
The message from the forum was therefore clear: Ghana’s gas future cannot rest on domestic production alone. Even with billions of dollars in new investment, LNG will remain part of the country’s energy security equation by 2030.
