US$114m needed to complete Atuabo Gas Project

After committing US$886 million into the Atuabo Gas Project, a further US$113.56 million is needed to complete the state-owned infrastructure meant to supply to the Ghanaian market.

Minister for Petroleum, Emmanuel Armah Kofi-Buah, announced this on the floor of Parliament Wednesday.

His comment was in reaction to a question posed by the Member of Parliament for Yagaba/Kubori, Mustapha Ussif who sought to know “the actual total cost of the Atuaba Gas Project”.

According to the Minister, the project was budgeted at US$1billion, which was made up of US$ 850 million China Development Bank (CBD) facility with the Government of Ghana providing a counterpart funding of US$150m.

Among the components of the project are an Offshore Pipeline, a Gas Processing Plant at Atuabo, Onshore Pipeline to gas off-center (Aboadze and Prestea) and Operations Office Complex at Essiama.

The Atuabo Gas Project is part of the Ghana National Gas Company Limited (Ghana Gas), which was formed in 2011.

The contract for the said project was signed in July 2012. Mechanical Completion of the Project, according to Mr. Kofi-Buah, was achieved in August 2014.

His answer to the august House however provoked a debate with Hon. Ussif challenging him that the facility had cost the country a whooping amount of US$1.5bn, according to a document available to him.

The said document was tabled before the House for scrutiny.

By: Stephen Odoi-Larbi/kasapafmonline.com/Ghana