Buah fires back at Dr. Kwesi Botchwey in raging power play

The Minister of Energy and Petroleum has insisted that it duly informed the Ghana Gas Company (GNGC) of the final takeover by the Ghana National Petroleum Corporation (GNPC).

Transaction advisors, PricewaterhouseCoopers (PWC) Ghana, is said to have completed the transfer of government’s interest in GNGC to GNPC, according to a statement from the Ministry of Energy and Petroleum dated 12th December 2014.

But Board Chairman of the GNGC, Dr. Kwesi Botchwey, in a statement yesterday, said the announced completion of the takeover process was “surprising and premature,” and insisted that, there has not been a single meeting between the Ministry, GNPC and his outfit over the takeover process.

But according to a letter dated 9th December 2014, and sighted by citifmonline.com, the Ministry said it initially informed the GNGC about the supposed takeover in a letter dated 3rd December 2014.

The 9th December letter, signed by the Energy Minister Emmanuel Armah Kofi Buah, also referenced a meeting between the key officials heading the various companies at a meeting on 9th December over the matter.

The Energy Ministry’s letter insisted that Dr. Kwesi Botchwey himself and his company secretary attended the meeting, a claim that he denies.

The rest of the officials who attended the said meeting are the Board Chairman and two Board Members of the Ghana National Petroleum Corporation (GNPC) and the Chief Executive of GNPC.

Officials of the Ministry of Energy also attended the meeting.

The Ghana gas takeover, according to government, is expected to make GNPC a stronger company with enough muscle to compete on the global stage.

According to Finance Minister Seth Terkper, ‘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 subsidiary of GNPC.

source : citifmonline.com