By Sarah Baafi
The Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, has described recent developments in Ghana’s energy sector as transformational, following the signing of major gas supply agreements aimed at boosting production, lowering prices and stabilising energy supply.
Speaking during a working visit by Vice President Professor Jane Naana Opoku-Agyemang to the Ministry, Dr. Jinapor revealed that government has signed a $2 billion gas agreement with the Jubilee Partners, which has already received Cabinet approval and been laid before Parliament.
“So that we can have more reliable supplies, we’ve signed a $2 billion agreement with the Jubilee Partners. It will reduce our gas price from $3.1 to $2.5, increase gas consumption by another 70 million standard cubic feet, and also increase crude oil production. For me, this is a game changer,” he said.
In addition, the Minister disclosed that a $1.5 billion agreement with the Sankofa Partners has also been secured, which is expected to further increase gas supply, reduce costs and boost national production levels.
Dr. Jinapor said the impact of these reforms is already being felt by consumers, pointing to significant reductions in fuel prices. “Those of you who used to buy fuel during the NPP time, fuel prices went as much as 23 cedis per litre. Today, under the administration of President John Dramani Mahama, you buy the same quantity for about nine cedis,” he noted.
He stressed that the success of energy sector reforms must ultimately be measured by their effect on the cost of living. “The ordinary Ghanaian wants to feel it in the pocket,” the Minister added.
According to him, the combination of improved gas supply, increased crude oil production and fiscal discipline is positioning Ghana’s energy sector on a more stable and sustainable path.
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Source:
www.gbcghanaonline.com