Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

About $1m spent daily to import crude for power generation

  • SOURCE: | qwesa2big
  • The country could be saving about 1 million dollars a day if work on the first gas processing plant is fast tracked.

    According a World Bank report, Ghana is spending this amount daily to import crude oil for power generation.

    Work on the plant, located at Atuabo in the western region, has delayed due to failure on the part of government to release funds on time to continue the project.

    The World Bank report stated that though “Ghana is fortunate that it has its own gas and can also import gas from Nigeria via [West Africa Gas Pipeline] WAGP…delays in the implementation of the Jubilee-associated gas infrastructure and supply interruptions on the WAGP have combined to produce an acute gas shortage at present”.

    It maintained that this shortage should be a powerful incentive for government to ensure the work is completed on time.

    The report however maintained that Ghana’s power challenges will not be over even when the gas starts flowing from Nigeria as well as from the plant in the Western region.

    This, it said, called for a rigorous plan to ensure the country generates power from all its oil fields.

    It concluded that without a plan to ensure full cost recovery or scrapping of subsidies in the sector, managers of the gas facilities could still make serious losses.

    Source: Joy Business

    Get the latest news and updates on Ghana’s oil and gas value chain by following us Reporting Oil and Gas on twitter @oilgasghana and like our facebook page and get at us on Google+. Subscribe to our group to get updates.

    Leave a reply

    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar