Government has announced plans to construct a new mooring system in Tema to enhance the efficiency and reliability of the downstream petroleum sector.
This decision was disclosed by the Minister for Energy and Green Transition, John Jinapor, as part of ongoing efforts to improve supply security and reduce operational costs in the sector.
Speaking on the matter, Mr. Jinapor highlighted the growing demand for petroleum products, which has surged by 186% since 2006. Despite this increase, Ghana still relies on a single Conventional Buoy Mooring (CBM) system in Tema for discharging both petrol and diesel.
This reliance, according to him, has led to significant challenges, including high demurrage costs and supply disruptions.
“For the downstream petroleum sector, the cabinet has agreed that we ought to construct a second mooring system in Tema, known as the CBM. We have only one CBM which is used to discharge both petrol and diesel”.
He further states that, “demand has increased by 186% since 2006, and yet we depend on only one mooring system, leading to huge demurrage costs, leading to huge challenges, and unreliable supply security. So, immediately, the cabinet has decided that we would construct the CBM”.
He assured that any legal or financial challenges associated with the project would be addressed in collaboration with relevant stakeholders.
Additionally, the government plans to improve petroleum supply flexibility in the western region, particularly around Takoradi, to ensure uninterrupted distribution across the country.
“Whatever challenges that arise, both legal and financial, we would engage all parties and address that.
We would also be addressing tankage in the west, around Takoradi, so that we can supply flexibility to serve the people of Ghana,” he added.
Jinapor mentioned that, beyond the mooring system, government is also looking to enhance private sector participation in the downstream distribution sector.
“Cabinet has also agreed that we support private sector participation in the downstream distribution sector. We have not decided to sell ECG or NEDCo,” Jinapor said.
