Business News of 2014-08-07

First production by Ghana Gas Plant in August

The first volume of gas from the Ghana Gas Processing Plant is expected to be produced at the end of August, TV3 has gathered.

The Plant is expected to meet 75 per cent of the gas demands of the country.

These came to the fore on Wednesday, August 6 when Vice President Paa Kwesi Bekoe Amissah-Arthur toured the facility in Atuabo in the Western Region.

Vice President Amissah-Arthur was taken round by Chief Executive Officer of the Ghana Gas Company Dr George Sipa-Yankey.

The $1 billion project, which is being financed by the China Development Bank (CDB), is expected to supply the Volta River Authority (VRA) with 120 million standard cubic meter of gas daily.

The project is 99.78 per cent complete, TV3’s Edward Kwabi reported on Midday Live on Wednesday.

He added that processing of raw gas into Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG) will be the core operation of the Plant, according to Dr George Sipa-Yankey.

Gas from the Plant is expected to save the country $1 billion each year for the next 25 years it will be in operation.

Our reporter also disclosed that another 5 trillion standard cubic meter of gas will be processed 8 kilometers into the ocean.

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