chapter  5
12 Pages

Risks in Gas-Power Project Financing

ByFrancis Mensah Sasraku

Oil and gas (O&G) issues have attracted interest since Ghana discovered oil in 2007. The general discourse has centred on the use to which the oil revenues would be put, rather than on the standards and processes that would ensure a safe, healthy environment and peaceful coexistence with various communities. Ghana had considerable experience designing the environmental policies that are expected to guarantee safety from activities that may be dangerous to the environment. The current activities relating to the oil discovery go far beyond the environment. There are issues of health and safety standards as well as community engagement and expectations and how to manage all of these in a manner that supports added benefits that petroleum brings to a developing country. In spite of Ghana's approach to environmental management, there are challenges which results from inexperience in marine ecosystem management as well as enforcing standards of health and safety which are required as part of a growing petroleum industry.