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Business News Fri, 30 Nov 2007

WAGP to produce compressed gas by July 2008

Akosombo, Nov. 30, GNA - Professor Leopold Messan Gnininvi, Chairman of the Ministerial Steering Committee of the West African Gas Pipeline Project (WAGP), on Friday said the project would produce compressed gas by July 2008.

Compressed gas is used to fill cylinders for everyday use such as cooking, air-conditions and refrigerators. This means the cost of gas would be relatively cheaper.

Prof. Gnininvi said this at a Ministerial Committee Meeting held in Akosombo to assess the progress of work so far, re-asses the performance of the Committee and ensure that the contractors were performing their duties well.

The Ministerial Committee charged with the overall supervision of the execution of the project in its various phases brought together ministers of energy and mines from Ghana, Togo, Benin and Nigeria. The West African Gas Pipeline Project is a unique effort by the four countries to tap gas resources from Nigeria for the mutual benefit of the people of the participating countries. Prof. Gnininvi, who is also Togo's Minister of Energy and Mines, pointed out that the gas was expected to flow by 31st December 2007 in Ghana, the first country to benefit from the project. He, however, said there was still a lot to be done to make the project really complete and called for a firm commitment by the four countries.

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Mr. Kwame Ampofo-Twumasi, Deputy Minister of Energy, said the project would provide a sustainable energy supply for the economic development and integration of the countries in the sub-region. "This important new source of energy has the potential to impact the West African business environment positively. It offers opportunity for cost-effective, clean and reliable energy supply for economic development."

The Deputy Minister pointed out that despite the problems, concerns and delays, the project had stayed on course and the actual construction of the pipeline was at an advanced stage.

Mr. Ampofo-Twumasi said Ghana's share of the cost of the project, which was about 16.3 per cent, amounted to about 19 million dollars but the benefits far outweighed the cost of the project. He expressed the hope that the committee would come up with concrete measures and decisions to see the free flow of gas within the scheduled time.

Source: GNA
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