|National Gas Development|
|Thursday, 21 July 2011 15:40|
The Ministry of Energy has noted with delight the interest Ghanaians have shown in the development of our natural gas and wishes to state that Government is committed to fast tracking the development of a robust, efficient and viable infrastructure required for the commercialization of our recent gas discoveries in the country. The broad objective of Government is to develop the gas resources initially for the domestic market, mainly for power generation, fertilizer production and the petrochemical industry.
Accordingly the Minister wishes to inform the general public that His Excellency the President has authorized the formation of an independent Ghana National Gas Company (GNGC).
Consequently, a Project Implementation Unit (PIU) has been composed, consisting of a small compact unit which will function for a maximum of three (3) months to be taken over by the GNGC, a limited liability company, incorporated under the companies’ code.
The GNGC, which would be an agency under the Ministry of Energy, will among other things:
• Own, manage and develop a national network of gas pipelines and gas treatment and storage facilities.
The Government has put in place all the necessary logistical arrangements to ensure that the company functions efficiently and would want to thank the World Bank for providing the initial funding for the set up of the Company.
The Ministry takes this opportunity to assure the country that Government considers the natural gas resource as a key to the socio economic transformation of our economy and would therefore ensure that its development is pursued to the fullest.