Chief Executive Officer (CEO) of Ghana National Gas Company Dr. Ben Asante has urged potential investors to partner to revive the Ghana Cylinder Manufacturing Company (GCMC) through the installation of the state-of-the art factory to supply cylinders, accessories and cook stoves to meet local demand and then for export.
He made this known at a ceremony organized for the GCMC premises on Wednesday.
According to Ghana Gas, this is a progressive business development plan, particularly with respect to the export of natural gas liquids.
It is to be done in concert with NPA’s cylinder recirculation model.
Dr Asante revealed that Ghana Gas is responsible for about 85% of the gas used for thermal power generation in the country and provide about 50% of the country’s LPG demand.
He again revealed government’s plan to decarbonize the country’s energy portfolio to low carbon emission sources and to renewable energy.
He announced the readiness of Ghana Gas for the execution.
It will ensure the rebottling and filling for safety with respect to the handling of the flammable fluids and “as we try to avoid occurrence of the unfortunate and tragic incident at the filling station at Atomic Junction”.
He mentioned that Ghana intends to ensure GCMC will continue the manufacture of cylinders while Ghana Gas will supply the LPG locally and import to bottling sites. It will also involve the filling of the LPG at designated bottling locations, transportation of filled cylinders to designated exchange points, and customer exchange of empty cylinders with filled ones at the requisite price.
The Minister of State at the Ministry of Energy, Herbert Krapa, described the acquisition as a significant milestone for Ghana.
“What we are celebrating here today, I believe is the culmination of different milestones, starting with the President approving the acquisition of cylinder manufacturing by the Ghana National Gas Company and I think the President deserves all our applause for that.
“I think we also need to acknowledge the Ghana National Gas Company for stepping up and taking the responsibility of acquiring the Ghana Cylinder Manufacturing Company.
“I joined the Ministry of Energy at a time when the conversation about the acquisition was ongoing.
“It was not only Ghana Gas who was interested in this acquisition, there were other interested parties and Ghana Gas put on such a compelling case that it was just impossible to ignore the benefit and the future that cylinder manufacturing partnership with Ghana Gas,” he stated.
The Ghana Gas CEO took the opportunity to thank the president for the steadfast support and institutions such as the GoG through the National Petroleum Authority (NPA), Ministry of Energy, State Interest and Governance Authority (SIGA), to ensure safe and efficient operation of LPG handling and distribution, as well as enhance local content participation, through the cylinder recirculation model.