Business News of Thursday, 6 September 2012

Source: GNA

Ghana to produce gas in commercial quantities by February 2013

Ghana would produce gas in commercial quantities by February 2013, Mr. Victor Kofi Sunu-Attah, Project Development Manager, Ghana National Gas Company has said.

When Liquefied Petroleum Gas (LPG) from the national Gas project is finally on board, it will also meet national demand and eliminate periodic gas shortages in the country.

Speaking to journalists at the on-going media training workshop on oil and gas in Accra, Mr. Sunu-Attah explained that the natural gas project would not only generate employment for Ghanaians but would create new infrastructure to support a vibrant petroleum and petrochemical industry.

He said with the mechanical completion of the gas plant by close of 2012, the first gas would be transported to the Volta River Authority, early next year for the Authority to use.

Mr. Sunu-Attah noted that the gas project holds lots of prospects for Ghana and that it would provide a new economic growth pole for the country starting with the Western Region.

The Project would provide the opportunity for a more competitive pricing of indigenous gas generation of much lower cost power, secure competitiveness of Ghanaian industry, accelerate economic development and also support strategic objective of becoming a petroleum processing hub.

“It would resume Ghana’s strategic role as preferred exporter of power in the sub-region while replacing wood fuels and avoid de-forestation.

There would also be flotation of shares of Ghana Gas that would ensure economic and social benefits from broadening ownership in the country’s natural resources.

Mr. Sunu-Attah said Ghana Gas Company established in July 2011 by late President John Evans Attah-Mills had been charged with the responsibility to build, own and operate natural gas infrastructure required for gathering, processing, transportation and marketing of gas resources to industry in a safe, cost effective, responsible and reliable manner.

He announced that among the strategic and operating objectives of the gas project within the short term was to focus on developing a Gas Infrastructure Project to process and pipe Jubilee Phase (1) one gas to Takoradi Thermal Plants in Aboadze.

This seeks to build the Early Phase Gas Infrastructure Project by the end of 2012 which would comprise a fully integrated and profitable gas business to serve the Ghanaian and export markets.

Sites had been acquired at Domunli consisting of Bonyere, Egbazo, Kabenlasuazo, Ndumsuazo, Bokakole, and Atuabo, Esiama, Inchaban, and Prestea, all in the Western Region, to prepare and build requisite infrastructure for gas operations and controls centers, incorporating helicopter surveillance fleet for protection of the gas facilities and petro-chemical plants.

Preparation of commercial and technical agreements for purchase, gathering, processing, transport and delivery of natural gas; would also begin with commencement of commercial operations on completion of the early phase of the project.

“Ghana has the needed infrastructure both in human and natural resources to make the gas industry more vibrant to the total benefits of Ghanaians,” Mr. Sunu-Attah assured.