May 2016 Financial News

High level T&T-Ghana energy talks

May 10, 2016

Energy matters were high on the agenda yesterday when Prime Minister Dr Keith Rowley, accompanied by a 12-member delegation, embarked on the first full day of meetings of their four-day state visit to Ghana.

Dr Rowley, who is in Ghana at the invitation of President John Dramani Mahama, arrived in Accra on Sunday after travelling from London and was received by Vice President Kwesi Amissah-Arthur at the VVIP lounge of the Kotoka International Airport.

The T&T delegation of government officials, chairmen of oil and gas companies and representatives of the business community are engaged in three days of meetings and activities, exploring and strengthening economic ties with the West African nation.

The agenda includes a visit to the Tema Oil Refinery, Ghana’s only refinery which is located about 24 kilometres east of Accra. Originally named the Ghanaian Italian Petroleum (GHAIP) Company and incorporated as a Private Limited Liability Company in December 1960, the refinery had been 100 per cent owned by Italy’s ENI Group The Government of Ghana bought all the shares in April 1977 and in 1990 the name was changed to the Tema Oil Refinery (TOR).

Dr Rowley and his delegation were also scheduled to visit the Volta Aluminium Company (VALCO), also located in Tema and also wholly stated owned. The aluminium smelter plant is a major producer for the world market.

The other major energy-related activity on the itinerary is a visit to the Atuabo Gas Plant, a gas processing facility located in Ghana’s Western Region in the peninsula of Ashantiland.

Speaking to journalists shortly after his arrival, Dr Rowley said the time had come for Ghana and T&T to co-operate for the benefit of the two countries.

He said T&T has expertise in areas such as energy and education and Ghana is expanding into those areas.

“When the two nations co-operate they can handle these development initiatives effectively,” he said.

Dr Rowley added: “I am delighted to be in Ghana, the home of our forebears. This is a home coming for us and we shall leave no stone unturned in fostering much closer collaboration with the government and people of Ghana. “While we share our expertise in the oil and gas sector, we look forward to learning from the Ghanaian experience in other sectors.”

The official activities got going yesterday morning when Prime Minister Rowley held talks with President Mahama at the Flagstaff House after which the two leaders held a joint news conference.

There were also meetings with Ghanaian businessmen and Dr Rowley was expected to lay a wreath on the tomb of George Padmore, a Trinidadian Pan-Africanist Journalist and close ally of Ghana’s founding father, Dr Kwame Nkrumah, who died in Ghana after residing there for many years.

Source:
Trinidad Guardian
Tuesday May 10, 2016

http://www.guardian.co.tt/business/2016-05-09/high-level-tt-ghana-energy-talks