Business News of Wednesday, 3 December 2014

Source: starrfmonline.com

GNGC seeks clearance to produce 500MW of power

The Ghana Gas company has given indication it is waiting for an official clearance from the Energy Commission to produce over 500 megawatts of power, which could bring an end to the distressing load shedding exercise.

The company has announced plans to start producing maximum gas by the end of December 2014.

In a statement board chairman for the Ghana Gas Company Prof Kwesi Botchwey said electricity being generated by the Volta River Authority (VRA) at the Aboadze thermal power complex is currently produced exclusively with gas from the Atuabo plant.

The plant, when in full operation will produce 107 million cubic feet of lean gas per day, 500 tonnes of LPG per day, 80 tonnes of pentanes per day and 45 tonnes of condensates per day.

LPG to be produced as a by-product is about 75 per cent of the current national demand of 240,000 tonnes per year and the initial revenue of Ghana Gas is estimated at $0.5 billion per year.