Q. What is the size of Ghana’s gas reserves?
- Ghana’s probable reserves are estimated at approximately 5TCF (Trillion cubic feet).
- Possible reserves or 3p are those unproven reserves which analysis of geological and engineering data suggest are less likely to be recoverable than probable reserves.
- Proven reserves or 1p are those mass of petroleum that can be estimated with reasonable certainty to be commercially recoverable by analysis of geological and engineering data, from given date forward, from known reservoirs and under contemporary economic conditions and operating methods.
- Probable reserves are those unproven reserves in which analysis of geological and engineering data suggests a more likelihood than not to be recoverable.
Q. What is Ghana Gas’ supply focus?
- Our primary focus will be supplying gas to the domestic / local market, partly meeting our national gas demands for generating power.
- Until such time that the domestic market demand is met, Ghana Gas will unlikely pursue export markets.
Q. Is Ghana Gas buying the gas from gas producers, and if so, at what price?
- Yes, the first 200bcf of associated gas will be given to the government of Ghana. Any gas beyond 200bcf will be sold to Ghana Gas directly from the producers at a (producer-deemed) market price.
- The pricing of associated and non-associated gas differs due to the purchasing price of obtaining the gas and the priority given it during production processes.
- The pricing of lean gas and NGL (Products from processed gas) are regulated by PURC and NPA.
Q. Who are the main regulating bodies of Ghana Gas and our main customers?
Ghana Gas is a midstream operator and is regulated by all regulating agencies in the energy sector. We are regulated in three stages of the Petroleum Industry value chain:
- Our upstream activities are regulated by Petroleum Commission
- Our midstream activities are regulated by Energy Commission
- Our downstream activities are regulated by NPA and PURC.
Q. who are Ghana Gas’ customers?
Ghana Gas’s main customers are power generation companies (IPP’s) and bulk distributors.