New oil and gas terminal for Ghana’s Takoradi port

29 May 2014

Construction work for the new oil and gas terminal at Takoradi port in Ghana, which is part of the ambitious port expansion project, is expected to commence in June 2014.

The Port, Ghana’s oldest seaport, does about 30% imports and 70% exports of cargoes that are considered to be of less value.

Ghana Ports and Harbor’s Authority viewed the opportunity of the oil and gas found in 2007 and the subsequent exploration of the resource as an opportunity to make the once-vibrant port the services hub for the black gold industry. Ghana Oil Company (GOIL), Viking and Haliburton, have erected facilities to provide oil and gas services at the port.

Economic growth and oil discoveries have pressured existing facilities to accommodate the increase in traffic, especially in supply vessels that ply between the port and the oil fields. Total traffic at Takoradi port rose by 32 % to 5.3 mn metric tonnes in 2012.

The first and second phases of the expansion have been estimated to cost US$344m.

The project, which was inaugurated by Ghana President John Dramani Mahama, has been scheduled for completion in 2016.

Related articles

Read the latest issue

Latest Issue