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Ghana Gas Company plans share sale

Ghanaian institutions and individuals will soon be made part of the newly formed Ghana National Gas Company (GNGC), following moves by the company to list on the Ghana Stock Exchange when GNGC begins expansion in a few years.

GNGC is expected to manage and sell natural gas discovered gas wells like the Jubilee field wells as well as develop a national network of upstream and midstream gas pipelines and gas treatment and storage facilities.

Ghana currently faces the challenge of ensuring regular power supply to households and businesses, and industry players believe GNGC, when fully operational, will develop the country’s gas resources.

However, to ensure it and other nationally important companies do not grind to a halt, analysts have suggested that they be compelled to list on the Ghana bourse to allow for public scrutiny as well as increase capital on the bourse.

In an interview with Citi News Dr Kwesi Botchway, Board Chairman of the Ghana National Gas Company, said the company has plans to offload some of its shares to the public in the future as part of its expansion plans.

http://www.citifmonline.com/index.php?id=1.287148.1.510426

 

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