Ghana’s Energy Commission has received a $691,000 grant from the United States Trade and Development Authority (USTDA), to help it deal with the country’s incessant fuel shortages.
Specifically, the grant is to aid the commission to conduct a feasibility study into the development of a floating liquefied natural gas storage and regasification unit in Ghana.
It is expected that the project will significantly reduce fuel shortages and supply disruptions plaguing the Ghanaian energy sector, enable Ghana import liquefied natural gas from the international market, maintain a buffer supply, and regasify the fuel at a significant cost savings over liquid fuels.
The project is also expected to improve availability of gas and also reduce harmful emissions, as power plants replace heavy fuel oil with more environmentally friendly gas.
According to a press release issued by United States Embassy in Ghana earlier this week and copied to ghanabusinessnews.com, the $691,000 grant will assist the Energy Commission in determining the cost effectiveness and technical viability of the emplacement of a ship-mounted liquefied natural gas import terminal, storage, and regasification unit.
It said additionally, it will examine the viability of the accompanying infrastructure, such as mooring and pipelines, required to transmit the gas to shore.
Mr. Alfred Ahenkora, Executive Secretary of the Energy Commission, and Ambassador Donald. G. Teitelbaum, U.S. Ambassador to Ghana, each signed the grant on Monday, June 13, at the U.S. Embassy in Accra on behalf of their respective countries.
Commenting on the grant, USTDA Director, Leocadia Zak, stated, “We are very pleased to support a project that is so important to the Ghanaian people and such a high priority for the Government of Ghana, we are excited for the opportunity to involve U.S. businesses in the project.”
The U.S. Trade and Development Agency helps companies create jobs through the export of US goods and services for priority development projects in emerging economies. It links U.S. businesses to export opportunities by funding project planning activities, pilot projects, and reverse trade missions, while creating sustainable infrastructure and economic growth in partner countries.
By Edmund Smith-Asante