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The price paid for the supply of gas for domestic and industrial use could be up from March this year 2019.
This is due to the government's decision to restrict the supply of gas to the Jubilee deposit due to the entry into service of the gas from the ENI deposit.
This restriction follows the government's agreement with ENI to consume the gas produced from the Sankofa deposit.
The Sankofa gas produced by ENI is expected to come into service in March 2019 to produce gas badociated with the Ghana Gas Company to supply the Karpowership plant.
The higher price of the product is the result of the processes badociated with the treatment, which is part of an agreement signed between Eni and the Government of Ghana.
Speaking at a workshop on gas price formation organized by Imani Africa, commercial director at Ghana Gas, George Adjei said the price of $ 7.5 per cubic meter of gas transported will make the gas higher than the price Ghana currently gets from the Jubilee deposit.
"Jubilee gas transportation is limited and will take effect from March this year. We have been invited to use Eni gas from the Sankofa deposit this year, but the pricing level of ENI gas is different from that of Jubilee. This means that consumers will have to pay a higher rate in 2019, "he said.
Dr. Theo Acheampong, energy economist and senior badociate at IMANI, believes that even if the agreement is already signed, the government can step in to lower the price.
"Although I do not think the government can do much, low taxes and rents can be reduced to reduce the price for consumers. The charge, once transferred to electricity tariffs, will actually be very important, "he noted.
Most workshop participants expressed concerns about the number of regulators in the gas market in Ghana.
The event was also used to launch a report on gas pricing in Ghana.
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