Business News of 2014-01-25

SINOPEC assures of gas by April 28

Lead Contractors for the Ghana gas processing plant, SINOPEC, have assured that gas will be available by the 28th of April, this year.

The assurance was given at an ongoing site meeting between the Energy Ministry, Jubilee Field partners and the Volta River Authority at Atuabo in the Western Region.

The completion of the gas project was scheduled for the end of last year but delay in releasing funds from the China Development bank and sinking of some key parts of the project in the high seas stalled its completion.

Communications Director at the Ministry of Energy and Petroleum, Edward Bawa, speaking to Citi Business News revealed that SINOPEC has indicated mechanical completion will be on the 31st of March.

“They told us that from today, they a have 66 days to mechanical completion, by that calculation they are talking of the 31st of March, 2014 and that first gas is expected in the pipes from the jubilee fields by the 28th of April 2014. They said that, from 28th of April, they will need about a week to process the gas internally, before they supply to VRA.”

Citi Business News has gathered the jubilee partners met the minister of Energy and Petroleum on Thursday to submit a number of possible options which included the flaring of the gas and reduction of production levels of oil.

The minister is expected to take a decision on this.