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

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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

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An Entrepreneur and Philanthropist. Editor-in-Chief of A Senior Journalist with 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. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

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