Business News of Friday, 20 March 2015

Source: starrfmonline.com

Ghana Gas starts commercial operations April

Ghana Gas Company is set to produce gas in commercial quantities in April this year, the Petroleum Minister has revealed.

According to Emmanuel Armah Kofi Buah, the production would be based on the capacity of the thermal plants in Ghana to absorb the gas produced.

Appearing before the Parliament’s Government Assurances Committee, Thursday, Mr Buah announced: “We intend to start full commercial operation at the end of this month.”

He said currently the plant is producing 74 million metric standard cubic feet of gas but will increase capacity to 150 million cubic feet at the end of March.

He assured that producing gas in commercial quantities will halve the cost of power production in Ghana.

Ghana Gas is currently providing gas to the Volta River Authority (VRA) to power the Aboadze Thermal Plant.

The CEO of Ghana Gas Company, Dr George Sipa Yankey, who accompanied the minister, said so far about $1 billion has been spent on the project.

According to him, the Ghana government contributed 15 percent of the cost with the rest coming from a Chinese Development Bank loan.

The 150 million Metric Standard Cubic Feet per day capacity GPP is located at Atuabo in the Ellembele District of the Western region of Ghana.