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Ghana Gas Company cost US$1 billion

atuabo

The total budget for the Ghana Gas project at Atuabo in the Western Region was US$ 1 billion.

It was  made up of an  US$ 850-million China Development Bank facility and the Government of Ghana counterpart funding of US$150 million.

The Minister of Petroleum, Mr Emmanuel Armah-Kofi Buah, told Parliament in an answer to a question at yesterday’s sitting.

The New Patriotic Party (NPP) member for Yagaba/Kubori, Mr Mustapha Ussif, had wanted to know the actual cost of the project.

Project components

Mr Buah explained that the project consisted  of an offshore pipeline, gas processing plant at Atuabo, onshore pipeline to gas off centres at Atuabo and Prestea and  an operations office complex at Essiama.

He further told the House that the total paid and committed costs to date amounted  to US$886,345,042.13 and that the  amount yet to be committed was US$ 113,654,957.87.

Throwing light on the company, the minister said it was formed in 2011 and the contract for the construction of the gas infrastructure project was signed in July 2012.

He indicated that the mechanical completion of the project was achieved in August 2014 and commissioning started in November 2014 and ended in April 2015.

Asked why the Ghana National Petroleum Corporation’s (GNPC) original contract was abandoned, he said even though the GNPC started the project, there was no agreement to that effect.

He said also that there was a legal binding contract on the project.

Suspension of continuous registration

On the suspension of the continuous registration exercise by the Electoral Commission (EC), the First Deputy Speaker, Mr Ebo Barton-Odro,  who was then in the chair, deferred  comments on the matter, explaining that members would have to wait until the Speaker, Mr Edward Doe Adjaho, took the chair.

This was after the NPP member for Sunyani West, Mr Ignatius Baffour Awuah, had asked the Speaker to invite the EC to brief members on the  exercise.

The First Deputy Speaker  also deferred the consideration of the Conduct of Public Officers Bill and urged members of the committee handling the bill to endeavour to work on the nitty-gritty of the bill after some members had raised issues with the handling of the bill by the Constitutional, Legal and Parliamentary Affairs Committee.

Source: http://www.graphic.com.gh/news/general-news/43483-ghana-gas-company-cost-us-1-billion.html

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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