Ghana expects to make $1b revenue from gas yearly

[obeeme]

Ghana is estimated to rake in $1 billion of revenue a year from the gas industry, an amount that can make the country repay the three billion-dollar Chinese loan facility from the Chinese Development Bank.
Vice President John Dramani Mahama made the disclosure at the weekend at the just-ended Third Ghana Policy Fair.

He expressed confidence that the country could benefit economically from the gas industry more than oil if the gas infrastructural development projects were executed.

The Vice President said a portion of the Chinese loan is expected to go into funding gas infrastructure project for processing gas from the Jubilee Oil Fields.

Mr Mahama said the gas infrastructure development projects would include the construction of offshore pipeline from the Jubilee 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 harbours and landing sites re-development project and cold storage facilities.
He identified infrastructure deficit as a major constraint to accelerated development, which needed to be eliminated to pave way for socio-economic developments.