Business News of Tuesday, 13 May 2025
Source: www.ghanawebbers.com
Dr. Cassiel Ato Forson, the Minister of Finance, spoke about the Second Gas Processing Plant (GPP II). He called it a game-changing project for Ghana's energy sector.
The project will create jobs and save the economy hundreds of millions of dollars. Dr. Forson noted that Ghana relies too much on expensive liquid fuels. This reliance costs the nation over $1 billion each year.
He stated, “Without the Atuabo Gas Plant, Ghana would have been in deep trouble.” He believes GPP II offers a chance to secure the country's future. The new plant could save nearly $500 million every two years.
This savings would help pay for the project quickly while creating over 1,000 jobs. Dr. Forson joined John Abdulai Jinapor, Minister for Energy and Green Transition, to inaugurate the implementation committee.
He urged the committee to deliver a comprehensive plan within four weeks. He stressed that delays in critical infrastructure are no longer acceptable. “This is too important for our country’s welfare,” he said.
Mr. Jinapor highlighted the urgent need for GPP II. He expressed concern about slow progress on gas processing since Atuabo's commissioning. Ghana's growing gas deficit has increased dependence on costly imported fuels.
This situation pressures public finances and threatens energy security. Mr. Jinapor added that GPP II will improve natural gas supply for power generation and industry use.
It will reduce reliance on liquid fuels and ease foreign exchange pressures. The project aims to position Ghana as a regional energy hub in the long term.
During the ceremony, two committees were inaugurated: a Technical Implementation Committee and a Communications Committee led by Hajia Shamima Muslim. Industry analysts welcomed this initiative, noting its potential benefits.
They believe successful delivery of GPP II could stabilize power costs and boost investor confidence in Ghana’s energy sector.