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Ghana Gas to pay $20m dividend to govt

botchway April 15, 2019

 

From Kwesi Alfred Adams, Takoradi             .

The management of Ghana Gas has disclosed that it would pay a dividend of $20 million to the government of Ghana this year. The company said because of the prudent measures it has put in place to save money for the company, it was in position to pay dividends for the first time to the state.

The head of Communications of Ghana Gas, Mr. Ernest Owusu Bempah, disclosed this at a press conference in Takoradi.

Bempah further said because of the indigenisation of local engineers, which led to the abrogation of the Synopec contract, Ghana Gas saved a whopping $40 million. For this reason, Ghana Gas would be in position to pay the state dividend after five years after full operation. Touching on other areas, the gas company said, with the successful completion of the tie in of 11 kilometres of gas pipelines from Atuabo to Aboadze, and the expansion of the Takoradi Regulatory Metering System (TRMS), power outages, which the nation was plunged into, would not happen again.

Ernest Owusu Bempah said currently, Ghana Gas was supplying the Volta River Authority (VRA) plants at Aboadze with 130 million cubic feet of gas, translating into 680 to 700 megawatts of power.

Earlier, the gas supplied to VRA was estimated at 110 cubic metres, which translated into 600 megawatts of power. “We, from Ghana Gas, can assure you that there is more gas flowing and this issue of power outages is not going to happen again.”

He said the recent power outages, which plunged the nation into darkness, was nothing but the shutdown of the gas facility following the 11 kilometres tie in of pipelines from Atuabo. According to him, the power outages are over because Karpower is producing 470 megawatts, Akosombo 900 megawatts, and 600 megawatts from the Aboadze enclave.

As a result, the people of Ghana should rest assured that gas and power supply would be consistent henceforth.

Before the completion of the 11 kilometres tie in of gas pipelines from Atuabo to Aboade, Ghana Gas was transporting 110 million cubic feet of gas to the VRA.

But with the completion of the tie in, gas supply to the facility has jumped to 130 million cubic feet.

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