Energy Minister, Dr Mathew Opoku Prempeh, says the Ghana Gas Company avoiding running into debt and ensuring liquidity of the company in its operations and other financial obligations will remain his topmost priority.
Inaugurating the newly constituted Governing Board of Ghana Gas, Dr Opoku Prempeh charged the Board to be keen on quality assurance and improvement on efficiency and reliability of the Gas Processing Plant.
This he believe is key to the survival of the Ghana Gas Company.
The facility established in July 2011, as a limited liability company has the responsibility to build, own and operate natural gas infrastructure required to ensure uninterrupted supply.
But Ghana gas faces challenges ranging from lack of ownership of the gas molecules, lack of absolute control over gas infrastructure both Upstream and Downstream of the value chain and overlaps between their institutional mandates and those of GNPC.
There is also historical liquidity challenges that has bedeviled the Gas to the Power sector and its trickle-down effects on gas sector service providers such as Ghana Gas Company.
The cumulative indebtedness to the Ghana National Gas Company (GNGC) is almost a billion dollars according to the Public Interest and Accountability Committee’s (PIAC) half-year report for 2020.
PIAC has warned that the debt which is currently $942,260,510 has reached an unsustainable level.
But the energy ministry through the Energy Sector Recovery Programme (ESRP) is currently piloting the Natural Gas Clearinghouse concept, which is aimed at ensuring equitable and smooth distribution of gas sector revenues to all sector players.
The Energy Minister is however upbeat about the future prospects of Ghana Gas saying “I am keen on ensuring that efforts by Ghana to become a major international player in the international gas market becomes a reality.”
“I believe the revision of the Gas Master Plan, which is one of my topmost priorities, will ensure that a concrete framework for Ghana’s gas infrastructure expansion is laid’ he emphasised.
The Minister also announced plans to ensure smooth operations of the major power generating entities.
“The Ministry will in due course, engage the Energy Commission, GNPC and Ghana Gas for the incorporation of a Gas Distribution Company,” he said.
The newly incorporated company will ensure that gas distribution to low pressure gas customers is done effectively, he added.
The nine-member Board includes Ben KD Asante, MD of the company.
Other are include John Darko, Adelaide Mary Benneh, Awulae Amihere Kpanyinli, Abraham Ossei Aidooh and Delphine Dogbegah.
The rest are Nana Owusu Ansah Ababio and Stephen Sumani Nayina.