Arab Today, arab today ghana china reach 800 mn gas development deal
Last Updated : GMT 04:12:05
Arab Today, arab today
Arab Today, arab today

Ghana, China reach $800 mn gas development deal

Arab Today, arab today

Arab Today, arab today Ghana, China reach $800 mn gas development deal

Accra - AFP

Ghana will borrow $800 million from China to build natural gas infrastructure, the head of the national gas company said Friday, months after the country became Africa\'s newest major oil producer. \"An agreement has been reached and we have secured $800 million from the Chinese Development Bank for the project to take off,\" George Sipa-Adzah Yankey told AFP on Friday. He said the West African nation\'s government had signed off on the deal and parliament is now expected to approve it. Further details of the loan were not yet disclosed. The deal marks the latest sign of China\'s growing influence in Africa as well as Ghana\'s bid to capitalise on its recent oil and gas discoveries. The country\'s government had pledged that major oil production, which began in December, would not result in the flaring of gas -- essentially burning it off -- with the practice viewed as harmful to the environment. But the country did not have infrastructure in place to properly develop its gas resources when oil production began. The work resulting from the loan from China will include pipeline construction, and the country is expected to begin producing gas by the end of 2012 at the earliest, said Yankey of the Ghana National Gas Company. He said gas production is expected to stabilise at around 120 million cubic feet per day. Ghana has begun producing oil from its offshore Jubilee field, one of the largest discoveries in West Africa in recent years. The field\'s operator is Anglo-Irish firm Tullow. Tullow said in July it was producing around 80,000 barrels a day and expected to reach 120,000 bpd this month. It has estimated that the field\'s recoverable resources amount to up to one billion barrels. China has previously shown interest in Ghana\'s oil, with the Asian nation seeking to fulfill its growing energy needs. Ghana is viewed as a model of democracy in West Africa, but its newly found oil wealth has brought with it warnings of the so-called resource curse, with many pointing to nearby Nigeria as an example. Nigeria, Africa\'s largest oil producer, has long been held back by deeply rooted corruption and mismanagement, while aspects of its economy outside of oil have been neglected.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ghana china reach 800 mn gas development deal Arab Today, arab today ghana china reach 800 mn gas development deal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ghana china reach 800 mn gas development deal Arab Today, arab today ghana china reach 800 mn gas development deal

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday