Ghana Gas Company says it is shifting its focus from improved profitability to reinvestment, with expansion and stronger operational reliability now at the centre of its next phase of growth.
According to the Chief Executive Officer of Ghana Gas, Judith Adjobah Blay, the company intends to channel its profits into upgrading its facilities and increasing the reliability and availability of gas for power generation and industrial use.
“What next is expansion. We need to invest those profits in ensuring that our facilities are more efficient and that we have more reliable and more available gas,” she said.
Ms Blay was speaking after an industrial tour of the company’s facilities by the Public Utilities Regulatory Commission (PURC) in Takoradi.
For Ghana Gas, one immediate investment priority is redundancy within its gas processing operations.
The company is close to commencing construction of a third compressor, which Ms Blay says will provide additional capacity when existing equipment is unavailable.
She expects the company to announce the start of construction by the end of September.
“For a gas processing operation, you always have to create redundancy so that when one breaks down, you have,” she explained.
The push for reinvestment comes as Ghana Gas seeks to strengthen infrastructure that sits at a critical point in Ghana’s power and industrial value chain.
The Executive Secretary of PURC, Dr Shafic Suleman, described Ghana Gas as a strategic asset for the country’s power sector and said the regulator’s visit was intended to better understand the investment needed to sustain the company’s operations.
“Ghana Gas is very important and a strategic asset for the power sector in Ghana,” Dr Suleman said.
He said PURC would continue to encourage investment in Ghana Gas’ infrastructure while supporting efforts to build the company’s technical and human-resource capacity.
The regulator also stressed the need to protect the company’s infrastructure as Ghana seeks to maintain reliable energy supply.
For Ghana Gas, the strategy is increasingly about turning financial gains into physical capacity strengthening the facilities that supply gas to power producers and industry, while building enough backup into the system to keep operations running when equipment fails
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