Business Hilights
Tracking Nigeria's Headline Business News Online

Ghana comes, begging for more Nigerian gas for electricity, others

Energy crisis rocking Ghana can be resolved if Nigeria’s gas is sustained or even increased in volume. This was the revelation of the Minister for Energy, Ghana, Mr. Boakye Agyarko, on Tuesday at the Nigerian Annual International Conference and Exhibition organised by the Society of Petroleum Engineers (SPE) in Lagos.

Represented by the acting Chief Executive Officer, Petroleum Commission, Ghana, Mr. Theophilus Ahwireng, the minister averred that Ghana’s current oil and gas production at 190,000 barrels a day and 120 million standard cubic feet per day, respectively.

In his submission, he said “One area that we have moved on very quickly has been gas monetisation. All the three developments we have currently have either some associated gas or their own gas. What we have done in the last few years has been to connect the pipeline infrastructure for these three developments.

“So, by the middle of next year, the gas pipeline infrastructure from Jubilee, TEN (Tweneboa, Enyenra and Ntomme) and the Offshore Cape Three Points will all be connected to provide a basis for security of supply; to prevent us from venting or flaring gas, and be efficient in terms of conserving the resource.”

Whereas the country is close to monetizing all the 300 million scf of gas that it would be producing for power generation, the Minister added that “Ghana used to have a 100 per cent dependence on hydro, but we are currently in the region of about 50/50 in terms of hydro and gas”.

It would be recalled that Ghanaian President, Nana Addo was also in Abuja on Tuesday where he presented a lecture on ways to grow economic integration in the AU, taking inspiration from growth in the EU.