Senior Minister, Yaw Osafo-Maafo, on June 25, 2017, led a delegation of government officials to Jereh Group headquarters in Yantai, China for a strategic cooperation summit aimed at achieving mutual growth through a win-win collaboration.
The two parties had an in-depth discussion on the Aboadze-Tema Gas Transportation Pipeline Project as well as other areas of mutual synergy and future opportunities for cooperation such as pipelines, refineries, petroleum storage, LNG/CNG systems, LPG distribution and natural gas compression.
During discussions, it emerged that Ghana faced power challenges for many years in the past due to the fact thermal power plants did not have enough fuel resources to fire power generation plants. Hence, the short to medium term development and prosperity of Ghana was impeded by the uncertainty in natural gas supply.
Yaw Osafo-Maafo described Jereh as a highly experienced and capable organization in the oil and gas services sector and expressed optimism regarding the company’s impressive development potential.
“My impressions of this company is first class, and what I have seen of this company is first class,” the Senior Minister said.
Government plans to transmit natural gas from the Western Region (Takoradi) to the Eastern Enclave (Tema) by building an onshore natural gas transmission pipeline which will also act as a driver for economic development due to the numerous distribution stations which will be constructed along the coast line of Ghana.
In April, 2017, Jereh Group and the Ghana National Gas Company (GNGC) signed a Project Implementation Agreement for the Aboadze-Tema Natural Gas Transportation Pipeline and gas infrastructure Project. Under a 15-year BOT mode, the terms of this agreement triggered the immediate commencement of preliminary site works as well as Front-End Engineering Design (FEED) activities which are currently ongoing.Jereh Group is responsible for the design, financing, construction, operation, maintenance, and management of the project.
At the summit, Mr Osafo-Maafo noted that Ghana was the center of the West African alliance and advised that an exemplary performance by Jereh on the gas pipeline infrastructure project would lead to many other opportunities both in Ghana and other West African countries.
He also mentioned that the project will further promote the economic and trade cooperation between China and Ghana under the “One Belt, One Road” Initiative.
Jereh Group’s Chairman and Co-founder, Mr. Sun Weijie said as one of China’s largest independent oil and gas companies, Jereh Group will harness its resources and capabilities into numerous other opportunities within the Ghanaian energy sector.
“We are happy to have signed a project implementation agreement (PIA) with Ghana for the construction of a critical natural gas infrastructure. We believe it will be a catalyst for economic growth and major industrialization across the coastline of Ghana and the Gas Infrastructure project is certainly not the end of our collaboration. On the contrary, we perceive this step as the beginning of many great things to come. We believe that we can turn Ghana’s strategy of ‘one district, one factory’ into a reality”, he said.
After the visit, the Ghanaian delegation was hosted by the Mayor of Yantai City, Madam Zhang Yongxia and her team of Yantai government officials in the Dongshan State Mansion. The Mayor expressed her gratitude to the delegation and gave effusive praise to Yantai Jereh for its excellent work in the international energy sector.
Two days prior to the event (on June 23, 2017) Vice President Dr. Mahamudu Bawumia and a delegation of senior Ghanaian government officials including the Deputy Energy Minister, Mohammed Amin Anta, met with a delegation from the Chinese oil and gas conglomerate, Yantai Jereh Group led by its Board Chairman Mr. Sun Weijie in the Diaoyutai State Guesthouse, Beijing.
The government officials on the Osafo-Maafo-led delegation include:
Freddy Blay, Board Chairman of Ghana National Petroleum Corporation (GNPC), Chairman of the ruling NPP
Kofi Koduah Sarpong, CEO of GNPC
Dr. Alfred Ahenkorah, Executive Secretary of Energy Commission
Isaac Osei, the Managing Director of Tema Oil Refinery (TOR)
Robert Mosore, Board Chairman of TOR
Ismaela Ibrahim, Office of the Vice President
Dr. Kwame Achampong-Kyei, Chairman of Bulk Oil Storage and Transportation Company (BOST)
Yantai Jereh Group is a multi-billion dollar publicly traded global organization with a presence in over 60 countries worldwide, specializing in oil and gas services, EPCC project implementation, as well as equipment manufacturing, technological services, project implementation and turn-key engineering. It offers integrated solutions in a flexible, efficient way to help customers resolve the issues and challenges they face.
Have your say
More Business Headlines
- Ghanaian-Lebanese appointed CEO of MTN Afghanistan
- GUTA confident of possible reduction in import duties
- Tunisia Trade Mission targets Ghana as strategic point of investment
- Tullow raises 2019 oil output forecast
- The gov't that did not see ¢30bn unreported gold leave Ghana
- Unilever Ghana unveils new manufacturing plants in Tema
- Global debt hits $244 trillion
- VW, Ford team up on trucks, eye deals on EVs, self-driving cars
- Databank denies dealing in gold
- No IPO after 4G acquisition – Vodafone CEO announces
- Ghana to leverage Chinese online retail platforms to market cocoa products
- Days of public finance disarray are over – Akufo-Addo
- Zimbabwe to introduce new currency due to dollar shortage
- UK car insurance premiums fall six percent in 2018 - Survey
- It’s like a bet - Man confesses love for Ponzi schemes