Business News of Wednesday, 20 February 2019
Source: goldstreetbusiness.com
2019-02-20
File photo
Ghana gas is calling on ENI, the Italian multinational oil and gas company operating in the country to reduce the price it sells its gas.
Ghana Gas CEO, Dr. Ben K. D. Asante noted ENI sells its gas for US$9.7 per MMBTU whiles it gets gas from Nigeria at a lower price of US$8.5.
Mr. Asante, however, says he has received assurances from ENI that once there is increased flows from the Sanzule onshore plant which sees gas treated and transported through a 63km-long dedicated gas pipe, prices will drop.
MMBTU, or MBTU, stands for one million British Thermal Units (BTU). A BTU is a measure of the energy content in fuel and is used in the power, steam generation, heating and air conditioning industries. One BTU is equivalent to1.06 Joules.
Meanwhile Minority Spokesperson on Mines and Energy, Adam Mutawakilu says power outages are affecting businesses. A section of Ghanaians on social media have been complaining of frequent power outages at their locations.
It is on the back of the complaints that Hon. Mutawakilu submits that a return to power outages due to lack of gas and low generation will disrupt production in the business sector leading to a scaling down of operation causing employers to lay off some workers resulting in job losses.
Such disruption he continues results in decreased tax inflow for government hindering the execution of proposed projects.
