Ernest Owusu Bempah Bonsu – PRO of Ghana Gas
The Ghana National Gas Company (GNGC) has debunked a recent article published by some newspapers on Thursday, 27th June, 2018, with caption “$750m Debt VRA Owes Ghana Gas Alarms PIAC.”
A statement issued in Accra and signed by Ernest Kofi Owusu-Bempah Bonsu, Head of Communications said: “Ghana National Gas Company wishes to state on record that it is incorrect that VRA owes it an amount of $750 million. To set the record straight, as at May 31, this year, VRA was indebted to Ghana Gas to the tune of $850 million. Ghana Gas, on its part, owes GNPC an amount of $265 million. $585 million is owed by VRA for processing and transportation.”
It said Ghana Gas has not been in production for six years as stated in the article.
Full-fledged operations started in April 2015 while the plant was commissioned in November 2014 to produce ‘first gas.’
“We wish to clarify that the amount of gas flaring and re-injection is based on the calorific value (HVC) of the gas which is related to the volume by the heating value (HV) that is about 1,000 btu/scf. Thus, 30,831 mmscf × 1,000 btu/scf will give 30,831,000 mmbtu and not a calorific value of 2,681,617.92 mmbtu as PIAC stated.”
“Also, the price of raw gas of $2.90 per mmbtu charged by GNPC for Jubilee is accurate, but the price of the lean gas stated as $8.8424 is in fact the delivered gas price, this is a composite of the commodity of $2.90 plus associated tariffs for processing and transportation in addition to Public Utilities Regulatory Commission (PURC) regulatory levy.”
GNGC said it was collaborating with the Ministry of Energy, its partners (upstream/downstream), stakeholders in the industry to clear the cyclical debt in the sector.
By Samuel Boadi