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GHANA WEATHER

Government cautioned on LNG contract

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A Financial and Energy Analyst , Alex Mould, has cautioned government against lack of transparency in agreements backing some Liquefied Natural Gas, LNG, contracts it signed with some companies.

Mr Mould, former CEO of the Ghana National Petroleum Corporation says the Re-gasification contracts of Helios/China Harbor Engineering, GNPC, and Rosneft LNG needs to be checked.

Speaking at the 2019 LNG Western Africa Conference in Accra Mr. Mould expressed concern about the seeming lack of proper world-class advisors on technical, commercial and legal areas of all the LNG Re-gasification Project Agreements.

He said these agreements signed a year ago on behalf of the government was given a very short negotiation period.

According to Mr Mould it has been a year now since GNPC signed a new gas sale and purchase agreement deal with Rosneft for the same natural gas supply agreement it had signed with Gazprom in September 2017 yet, stakeholders including Parliament and civil society are not getting much information about the LNG Re-gasification Project from the government through the Ministry of Energy or from GNPC.

He, therefore, called for more consultation in the spirit of value for money.

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