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Extract from GNPC- Genser Contract

Ghana Gas has the largest pipeline complex in the country. Roughly $1.6 billion of equity and public/ publicly-guaranteed debt have gone into this huge infrastructure base. All the offshore pipelines that bring the gas from the sea to land (the most expensive form of gas transmission) belong to Ghana Gas. Yet Ghana Gas is paying an average wholesale price of about $5.4 per unit for the gas it retails. Ghana Gas provides clear local benchmarks for how to value the contribution of pipeline infrastructure to cost buildup.

In 2020, Genser Energy signed a deal to buy natural gas from GNPC at a cost of $2.79 per Metric Million British Thermal Unit (MMBtu). “MMBtu” is a unit used to measure gas flow in the gas industry. This was after it had committed in 2018 to buy gas at $6.5 from Ghana Gas if it succeeds in being classified as an “strategic industrial consumer” and if not then at $7.29. When Ghana Gas tried in February 2019 to get the Energy Commission, a key regulator, to designate Genser as a strategic consumer and thus to justify the lower price, Energy Commission refused.

PIAC INFOGRAPHICS
Narrative Infographics on Public Interest and Accountability Committee (PIAC)

The Public Interest and Accountability Committee (PIAC) was established under Section 51 of the Petroleum Revenue Management Act (PRMA), 2011 (Act 815) as amended.

Key Objectives of PIAC
To monitor and evaluate compliance with the Act by government and relevant institutions in the management and use of petroleum revenues and investments;
To provide space and platform for the public to debate on whether spending prospects and management and use of revenues conform to development priorities as provided under Section 21(3); and,
To provide independent assessment on the management and use of petroleum revenues to assist Parliament and the Executive in the oversight and the performance of related functions.

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