Business News of Friday, 17 August 2012

Source: GNA

Laying of pipes for Gas Processing Project to begin this month

The first phase of the National Gas Processing Project is to start this month, Dr. George Spia-Yankey, the Chief Executive Officer of the Ghana Gas Company Limited, has said.

He was speaking to the press after inspecting some 6,953 pieces of pipes imported from China for the project.

The company has already taken delivery of the first consignment of over 3,000 pieces of pipes from China.

Dr. Spia-Yankey said the first phase involved the laying of offshore and inshore pipes from the Jubilee Field through Atuabo to the Takoradi Thermal Plant at Aboadze.

He said the first phase, which is estimated to cost about $750 million, would be undertaken by Sinopec International Petroleum Corporation of China.

Dr. Spia-Yankey said enough pipes are available for the first phase to take off sand the second phase, which included assembling of plants at Atuabo, is expected to take off next month.

The project is expected to be completed by the end of the year.

Dr. Spia-Yankey said the Gas Processing Plant would initially produce 150 million metric standard cubic feet of gas a day and the production level would be increased to 300 million metric standard cubic feet.

He said the country would derive numerous benefits from the gas project, including availability of gas to power Takoradi Thermal Plant at a lower cost, creation of jobs and the establishment of petro-chemical industries.