Government has announced the Ghana National Petroleum company Company (GNPC) will take over the management and operations of Ghana National Gas Company (GNGC).
The Ghana gas takeover is expected to make GNPC a stronger company with enough muscles to compete on the global stage.
According to Finance Minister Seth Tekper ‘the consolidation of GNPC and GNGC will make it possible to enhance a more integrated management and continue financing of projects in the oil and gas enclave immediately’.
The move will make Ghana gas a gas subsidiary of GNPC.
Finance Minister, Seth Tekper delivering the 2015 Budget statement in parliament on 19th Novemeber,2014 said management will be enhanced with the merger of the two companies.
He believes ‘ the move will make it possible to ease the conditions that investors impose for the national gas aggregator and start financing projects in the oil and gas enclave immediately’.
Energy think-tank, the African Centre for Energy Policy (ACEP) has welcomed the announcement of the takeover of the Ghana National Gas Company by the Ghana National Petroleum Corporation.
Speaking to Citi Business news, Director of Research and Evidence at ACEP, John Peter Amewu said a separate and independent gas company should not have been established in the first place.
By: Kwaku Anim Boadu/citifmonline.com/Ghana