Ghana's gas-for-liquid-fuel switch yields $500m savings - Energy Minister

Ghana’s decision to increase the use of natural gas for thermal power generation saved the country about $500 million last year, Energy and Green Transition Minister Dr John Abdulai Jinapor has revealed. The savings were achieved by reducing the use of liquid fuels, which are more expensive to import and use for electricity generation. Dr Jinapor said the shift had helped lower the cost of power generation and reduced financial pressure on the energy sector. Speaking at the Future of Energy Conference, he said the government must build on the gains made from the switch to gas. “Last year, when we did the analysis, we saved $500 million from liquid fuel to gas import substitution. And that's a huge saving that we ought to continue to work on,” he stated. 'Power outages will be resolved by end of September' – Mahama Ayariga According to him, reducing the cost of fuel used to generate electricity is critical to strengthening the finances of Ghana’s power sector. He said the country must look beyond fuel costs and invest in new technologies and other energy sources to meet future electricity needs. Dr Jinapor noted that Ghana’s energy mix would continue to include thermal power, natural gas and renewable energy. Domestic Gold Purchase Programme drained Bank of Ghana's finances - IMF He added that the government was also working to improve electricity infrastructure to ensure a more reliable supply as demand increases. The Minister said these measures were important as Ghana seeks to expand industries, support businesses and make electricity more affordable and reliable. DR/MA Ghana will not borrow simply because financing is available – Dr Ato Forson Source: www.ghanaweb.com
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