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ECONOMY : Gov’t okays new company to manage gas
|Gas Tanker|| |
President John Atta Mills has authorized the formation of an independent Ghana National Gas Company (GNGC) to among other things, own, manage and develop a national network of gas pipelines.
The GNGC will be an agency under the Ministry of Energy operating as a limited liability company.
This follows the submission of a report prepared by a National Task- Force chaired by former Minister of Finance, Dr Kwesi Botchway on the most appropriate means of utilising the country’s gas resources.
The decision to set up GNGC is in furtherance of government’s objective of developing the country’s gas resources, initially for the domestic market, power generation, fertilizer production and the petrochemical industry.
In an interview with Citi Business News, the Public Relations Officer of the Energy Ministry, Edward Bawa, outlined other functions of the Ghana National Gas Company.
“Legally the company will see to the development of our natural gas. The company will manage all the national network of pipelines and gas treatment facilities. This means that the gas project will fall directly under their mandate and so they will ensure that they comply with the guidelines we have set”.
“Likewise, everything that has to do with gas, in terms of gas prospects and discoveries will also fall under their mandate. Therefore the period or timeline set by the task force, which came out with their findings, must be met by this newly-founded company. This Ghana National Gas Company will be an agency under the ministry of Energy”.
Meanwhile, a Project Implementation Unit (PIU) has been set up to function for a maximum of three months before the GNGC takes over.
The PIU is currently being headed by the advisor to the president on energy matters, Armah Amaakwei.
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