Skip to main content

2nd Gas Processing Plant Implementation Cttee inaugurated; given four-week deadline

 


In a major step toward strengthening Ghana’s energy security and reducing reliance on costly fuel imports, the government has inaugurated the Implementation Committee for the country’s Second Gas Processing Plant (GPP II).

Once completed, the new plant is expected to significantly reduce Ghana’s dependence on imported liquid fuels — a major burden on the economy.

According to the Finance Minister, Cassiel Ato Forson, the country is projected to spend over $1 billion this year alone on these expensive fuels.

The Minister also noted that the project is expected to create over 1,000 jobs and save the country more than $500 million.

This project is long overdue. Ghana will this year spend over $1 billion on expensive liquid fuels to power our plants — a burden on our economy and on ordinary citizens,” he said. “With this new Gas Processing Plant, we have the opportunity to save nearly $500 million and create over 1,000 jobs for our people.”

The Implementation Committee, chaired by the Deputy Minister for Energy and Green Transition, has been given a firm mandate to complete its implementation plan without delay.

“I reminded the committee, chaired by the Deputy Minister for Energy, that the time for bureaucracy is over. The nation is counting on them to deliver, and I’ve given them four weeks to finalise their implementation plan,” the Finance Minister emphasized.

The existing Atuabo Gas facility has already served as a vital energy source for the country. GPP II is expected to build on this foundation, improving energy reliability and contributing to overall economic stability.

Atuabo Gas has been a lifeline for Ghana. GPP II will be a game-changer for our energy security, economic stability, and national welfare,” he concluded. “We are committed to getting it done.”

According to Richard Gyan-Mensah, who is chairing the technical committee for the GPP Phase II project, the government will begin full-scale implementation immediately after the final plan is submitted in four weeks.

Comments

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...