Gas-to-power strategy saves government GH¢3.08 billion in fuel costs — Finance Minister

The Government's Gas-to-Power Strategy has generated savings of GH¢3.08 billion, equivalent to US$268.5 million, in fuel costs during the first half of 2026.

This was achieved through the replacement of light crude oil with natural gas for electricity generation.

Dr. Cassiel Ato Forson, Finance Minister, announced this when he presented the 2026 Mid-Year Budget Review in Parliament on Thursday.

He said the strategy was aimed at replacing expensive light crude oil with cleaner and cheaper natural gas, a transition expected to reduce electricity generation costs by at least 75 per cent.

Dr. Forson said by the end of June 2026, the Government had increased gas supply for power generation by an additional 35 million standard cubic feet per day, bringing total supply to about 490 million standard cubic feet per day.

He explained that the increase comprised 10 million standard cubic feet per day from OCTP and 25 million standard cubic feet per day from Jubilee Gas.

The Finance Minister said the increased gas supply had strengthened electricity generation while significantly reducing fuel costs.

He reaffirmed the Government's commitment to the Gas-to-Power Strategy as part of efforts to ensure affordable, reliable and sustainable energy for the country.

GNA