Ghana Targets $500M in Annual Savings with New Gas Plant

Ghana Targets $500M in Annual Savings with New Gas Plant
Ghana is set to transform its energy sector with a new natural gas processing plant aimed at slashing liquid fuel costs by half and saving up to $500 million annually.  Announced on May 19, 2025, by the Ministry of Energy , this initiative addresses the $151 million annual losses from unprocessed gas and aims to stabilize electricity production costs.  The project, led by Energy Minister John Abdulai Jinapor , is a strategic move to bolster Ghana’s energy resilience and rebuild investor confidence, which has waned since 2019.  Finance Minister Cassiel Ato Forson described it as a critical step toward fiscal sustainability and securing the nation’s energy future. An inter-ministerial committee, including representatives from the Ghana Gas Company, Ghana National Petroleum Corporation (GNPC), and private sector stakeholders, has been formed to fast-track the plant’s development.  This collaborative effort underscores the government’s urgency to address budget constraints and optimize local gas …