Energy Ministry woos investors as PHDC signs Global Sphere deal for Petroleum Hub Phase Two

The Minister of Energy and Green Transition, Dr John Jinapor, has reaffirmed government’s commitment to creating a credible, competitive and investor-friendly energy sector to attract investment and support sustainable growth.

“As a government, we are committed to building a credible, competitive and investor-friendly energy sector anchored on certainty, predictability and transparency,” Dr Jinapor said in a Facebook post following bilateral meetings with key industry players on the sidelines of African Energy Week.

The meetings brought together companies already operating in Ghana and prospective investors interested in exploring opportunities in the country’s energy sector.

The companies commended Ghana for the economic turnaround achieved within a year and the government’s efforts to make the energy sector more attractive to investors.

“These principles are cardinal to strengthening investor confidence, fostering long-term partnerships and creating an enabling environment for sustainable investment and growth in the energy sector,” he added.

In a related development, Dr Jinapor witnessed the signing of a partnership agreement between the Petroleum Hub Development Corporation (PHDC) and Global Sphere for Phase Two of the Petroleum Hub Project.

He described the partnership as a significant milestone in Ghana’s ambition to become West Africa’s leading energy hub.

The minister said the project would help drive industrialisation, attract investment, create jobs and strengthen the country’s energy security.

The project, scheduled for development over five years, will comprise a refinery with a capacity of 300,000 barrels per stream day, two petrochemical plants, storage facilities with a combined capacity of four million cubic metres and a multi-berth jetty.

Dr Jinapor commended all stakeholders for their commitment to the project and pledged to work closely with the PHDC to fulfil the government’s obligations and move the initiative from agreements to actual construction.

“You have my full support. I will engage the Minister of Finance and the Attorney-General. I will also bring on board the Minister of Lands and Natural Resources so that, together, we can guide this project and provide the necessary backing,” he said.

He also commended the PHDC, led by its Chief Executive Officer, Dr Toni Aubynn, for its efforts to advance the initiative, stressing the need for full institutional support to deliver a project central to President John Dramani Mahama’s ambitions for Ghana’s oil and gas sector.

Dr Aubynn described Dr Jinapor as a consistent supporter of the petroleum hub initiative and said the corporation had made implementation a priority in 2026.

He said the project was intended to become a strategic national asset that would strengthen energy security, create jobs and reduce Ghana’s exposure to external economic shocks, including geopolitical tensions affecting global energy markets.

“We believed that the groundwork had been laid, that the partnerships were within our reach, and that the time had come to move from boardroom plans on paper to progress on the ground,” he said.