Business News of 2014-05-30

Ghana to obtain gas from Equatorial Guinea

Energy Ministry has revealed that government is considering sourcing gas from Equatorial Guinea to power the country’s thermal plants.

“The Ministry is engaging with La Cote D’lvoire and Equatorial Guinea to establish a regional gas project because Equatorial Guinea has more than adequate gas,” the Chief Director at the Energy Ministry, Professor Thomas Akabza said.

According to him, the project is one of the short term measures to address the current energy crisis.

Speaking at a forum organized by the Institute of Economic Affairs on the energy crisis, Prof. Akabza said the paper work on the deal is almost done.

He was also pessimistic that the project will be sustained.

Meanwhile, the Electricity Corporation of Ghana (ECG) is to publish a load shedding time table this weekend after several weeks of incessant power cuts.

This is to enable consumers to plan better on how to use their electrical appliances.

The country has been experiencing power crises due to low supply of gas from Nigeria.

Some institutions and stakeholders in the energy sector have predicted that the problem will last for some time now.

Source: citifmonline.com
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