Ghana's natural gas expected bonanza
Vice President, John Dramani Mahama said that the country will bring in an estimated one billion dollars of revenue per year from natural gas production.
Mahama, speaking at the Third Ghana Policy Fair, said it was his belief that the country could benefit economically from the gas industry more than oil, if the gas infrastructural development projects were executed.
Ghana’s budget is set to get an influx of cash once the natural gas starts flowing from the Jubilee Oil Field.
The VP said that the gas infrastructure development projects would include the construction of offshore pipeline from the Jubilee Oil Field to transport gas, the construction of a gas processing plant, the expansion of the Takoradi Port, the rehabilitation of the Western corridor railway lines, the coastal fishing harbors and landing sites re-development project and cold storage facilities.
Ghana has a natural gas plant on the books and a portion of a loan from the Chinese Development Bank will fund a portion of the plant’s construction.