Towards Good Governance in Ghana’s Petroleum Sector
This chapter presents the Trinidad and Tobago (T&T) Model of value addition from natural gas, its characteristics and the lessons Ghana and other African countries can learn from it. It undertakes a critique of the policy-making and decision-making system of T&Ts energy sector, including implementation of programmes. Moreover, investment strategies in using oil revenues for gas development and gas revenue for human resource development are illustrated. Also addressed are T&Ts effective analyses of the industrys value chain as well as supply and demand factors to achieve optimal benefits. Furthermore, T&Ts use of innovative strategies through local value-added building blocks and in natural gas development to meet changing market requirements, and sustain a competitive advantage in the industry are discussed. The chapter concludes with how T&T is leveraging its strengths for sustainability by becoming an energy services exporter, among other strategies.