Today in 2016: VRA owes Ghana Gas over $250m

It was reported by The Finder in 2016 that the Volta River Authority (VRA) was yet to settle debt costing about US$250 to Ghana Gas.

This revelation came to light after a new board of Ghana National Gas Company visited the Atuabo Gas Processing Plant to familiarize themselves with the operations on the field after they took office.

The team pledged to collect monies from both institutions and individuals who are indebted to Ghana Gas for buying their product on credit.

Read the story orginally published in 2016 by The Finder below

The Volta River Authority (VRA), main downstream off-taker of lean gas, owes Ghana National Gas Company over US$250 million for processed gas.

This came to light when the new board of the Ghana National Gas Company visited the Atuabo Gas Processing Plant to familiarise itself with the operations of the company.

During this maiden visit to the gas facility, the board pledged to outline policies to make Ghana Gas financially independent and to ensure settlement of indebtedness by off-takers of the company’s products.

The new board assured staff that it would work with management of the gas processing company to resolve the immediate challenges facing it.

Chairman of the Board, Mr John Armstrong Yao Klinogo gave this assurance during the visit.

Other members of the board on the familiarisation tour were Dr George Sipa-Adjah Yankey, Chief Executive Officer (CEO) of Ghana Gas; Mr Alexander Mensah Mould, CEO of the Ghana National Petroleum Corporation (GNPC); Ms Vivienne Gadzekpo, Director of Legal Affairs at the Ministry of Petroleum; and Awulae Amihere Kpanyinli III, paramount chief of the Eastern Nzema Traditional Area.

The new board, which replaced the first board of the company, was sworn into office on February 4, 2016. It is expected to shape the future of Ghana Gas and oversee the implementation of the second phase of the gas project.

The board also paid a courtesy call on the chiefs and people of the Eastern Nzema Traditional Area and assured the community of its commitment to address the concerns of the communities in which Ghana Gas operates.

CEO of Ghana Gas and member of the board, Dr Sipa Yankey said Ghana Gas plans to roll out a series of corporate social responsibility interventions to support the developmental needs of the communities within its areas of operation.

The Chiefs, in response, assured the board of their support and affirmed their continuous co-operation for the success of the gas project and its associated community projects.