Close to $1m spent daily to import crude for power generation in Ghana

By on

images (8)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.

 

Joy News

ABOUT: Nana Kwesi Coomson

[email protected]

A Freelance Journalist, Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A contributory writer for Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

view all posts by: Nana Kwesi Coomson  

Leave a Reply

Your email address will not be published. Required fields are marked *

ABOUT 233TIMES

233times.com is a Ghanaian media house which serves as a major source of exclusive interviews ,music and video downloads, news and more.

233times.com reports on major events,news covering entertainment, politics, sports, etc from within Ghana, Africa and beyond.

We have a platform for the amateur artistes to portray their staggering talents ...more...

WE ON SOCIAL MEDIA. FOLLOW US

facebook twitter youtube google plus linkedIn

To advertise with us or make enquiries, please visit 233times.com/advertise or call +233249455142 (Selorm), +233248185848 (Nana Kwesi)