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GNPC ,Ghana Gas consolidation deal to empower oil enclave

  • SOURCE: | Editor
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    Finance Minister Seth Terkper has said the consolidation of the Ghana National petroleum Corporation and the Ghana National Gas Company will enhance the integrated management and the continuous financing of projects in the oil and gas enclave .

    ‘The consolidation will make it possible to enhance a more integrated management and continue financing of projects in the oil and gas enclave immediately.

    ”The move expected to make Ghana Gas a subsidiary of GNPC is aimed at ensuring that the entity becomes stronger with enough muscles to compete on the global stage ,” Mr Terkper explained .

    However ,the energy Ministry last week announced the complete takeover of the Ghana Gas by the GNPC,but board chairman of the Ghana Gas Company ,Dr Kwesi Botchwey ,issued a counter statement hours after the Ministry’s announcement ,challenging the take-over claims .

    ”The Board and Management of the Ghana Gas have not held a single meeting with the Transaction Advisors (who a statement from the Minister Of Finance said has been appointed , neither has the transaction advisors requested the company to provide it with any information ” a statement by Dr Botchwey said.

    The Minister of Energy and petroleum has insisted that it duly informed the GNGC of the final takeover by the by thE GNPC.

    Transaction advisors, pricewaterhousecoopers(PWC) Ghana is said to have completed the transfer of government’s interest in GNGC to GNPC ,according to a statement from the Ministry of Energy and Petroleum date 12th December,2014

    Source; B&FT

     

     

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