Gas Project Hold-Up to Cost Ghana $340 Million

Gas Project Hold-Up to Cost Ghana $340 Million

From Ghana Web

The inability of the Ghana Gas Company to begin commercial delivery of gas from the Atuabo Gas facility in January, 2014, is likely to cost the country $340 million.

Ghana Gas cannot meet the January, 2014, scheduled delivery date because of the loss of a container carrying a consignment, including 34 fabricated plates for the liquefied petroleum gas (LPG) storage tank, off the coast of South Africa.

The consignment, which also included some important accessories for the storage and condensing tank, was said to have sunk when the Chinese vessel in which it was being carried, the Senghuang Song, was involved in an accident on August 8, this year.

According to the Chief Executive Officer (CEO) of Ghana Gas Company, Dr George Adjah Sipah-Yankey, with the loss of the items, the company would not be able to generate the first gas after the contemplated December 31, 2013 completion date.

Read more at ghanaweb.com