The statement of retirement of the Board of Ghana Gas Company did not mention the company’s transition into a subsidiary of Ghana National Petroleum Corporation, the state hydrocarbon company.
Instead Kwesi Botchwey, Ph.D, former Minister of Finance and the chairman of the retiring board, spoke of two things; the setting up of administration of Ghana Gas and delivery of the Western Gas Infrastructure and the wrap up of the project’s first phase.
The Board of Ghana National Gas Company (Ghana Gas)was set up in July 2011. It established the administrative and operational structure of the company from scratch; built an onshore gas processing facility to process raw natural gas and produce various products including lean gas for power production, liquefied petroleum gas and other natural gas liquids for domestic and industrial use and implemented the Western Gas infrastructure project with the successful commissioning of the Gas processing plant, associated pipelines and auxiliary equipment in November 2014, “despite a number of incipient challenges”.
Botchwey stated, in a note released as an adjunct to the retirement notice, that the anticipated completion of the 2nd mandatory shut down of the Gas Processing Plant at Atuabo on January 31, 2016, would symbolize the successful completion of Ghana Gas’ first year of operations.“The event marks a major milestone signifying the completion of the first phase of the Western Gas Infrastructure Project.”
What Dr. Botchwey didn’t mention, which was as significant as the operational issues, was that a process was on course to transfer its ownership of Ghana Gas to the GNPC, as a limited liability company.
He did say, in November 2014, that“the Board of Ghana Gas had“not passed any resolution nor has the Board filed the necessary papers to effect the change in ownership, nor held a single meeting with the Transaction Advisor and it cannot therefore be said that the process has been undertaken and concluded”.
As of the time of the exit of the Board, from all indications in Botchwey’s statement, Ghana Gas had not passed on to GNPC.