The President John Dramani Mahama has stated that Ghana was on course to being the energy hub of West Africa in the near future.
He said this, against the backdrop of prudent measures being taken by government to strengthen the energy sector.
Addressing journalists after touring the Atuabo Gas Processing Project in the Western Region last Thursday, the President said the development of Sankorfa Oilfield indicated that from 2016 there would be more revenue from oil.
He said the National currency which has suffered a tumble in value against International currencies in recent times would soon be strengthened and foreign exchange reserves would witness a massive appreciation.
The President expressed satisfaction with work done so far at the Atuabo Gas Processing Project and said “It holds exciting prospects for National Economic Development”.
The Chief Executive Officer of Ghana Gas, Dr. George Sipa-Yankey said that the Gas plant was a huge national asset. He said a lot of savings in foreign exchange spent in importing gas would be reserved for other developmental project
“Currently, it costs about 1billion to purchase light crude oil to generate power annually. The gas to be supplied by Ghana Gas Company would cut cost by about half the price of imported gas. The Volta River Authority will purchase gas from the plant in the local currency, he added.
In a related development, President John Dramani Mahama cut the sod for the construction of a 10 kilometre road from Atuabo to Benin in the Jomoro district of the Western Region to facilitate the movement of goods and services on that corridor.
Source: ISD (Michael S. Ocloo)