Parliament to take crucial decision today

Parliament sat last Saturday July 6, and would be sitting today Monday July 8 to enable it complete its business for the Ninth Week in the Second Meeting of the Second Session before it rises on Friday.

Papa Owusu-Ankomah, Chairman of the Business Committee and the Majority Leader, said last Friday, there were a number of papers, statements and motions to be laid and made, which enjoined the House to make extra effort at clearing the backlog.

Energy-hungry Ghana is poised for a breakthrough in its gas exploration efforts in the not too distant future, therefore one of the papers Parliament would be considering and hopefully passing this morning is an energy related report.

The "Report of the Committee on Mines and Energy on the Petroleum Production Agreement between the Government of Ghana, the Ghana National Petroleum Corporation and Tano Energy (Ghana) Limited for the conduct of developing and producing the Tano Fields, offshore Ghana" is awaiting Parliament's approval.

After statements are made this morning, there would be laying of papers and a motion on the adoption of the report of the Committee on Mines and Energy on the Petroleum Production Agreement and its Consequential Resolution would be tabled.

The investors in the Tano fields gas exploration are quietly optimistic that there would be enough gas to fire gas turbines for the production of electricity and some left over for domestic consumption. This would add some zest to Ghana's economic recovery efforts.

At the moment, Ghana and other countries in the ECOWAS zone are awaiting the commencement of the West Africa Gas Pipeline Project before they can enjoy gas from Nigerian oil fields which is being flared away into the atmosphere at the moment. The completion of this project is somewhere in the distant future when member states have sorted out their politics and financing arrangements. The Tano fields development could however come on stream as early as sometime next year.

The Accra Daily Mail has spoken to some local interests and they say it is a sweet arrangement in which the Government of Ghana would not take any risks with taxpayer's money, as all the investible funds are coming from private sources.

Could this be Ghana's energy dream come true? Optimistically, the local source says, "This time we are onto something significant." This "something significant" could put Ghana on the road out of HIPC. Ghanaians would have to hold vigil and pray...