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Thursday, June 7, 2018
Ghana plans to work on paying down its debt to Nigeria and two international oil firms before the end of 2018. The country owes for the natural gas supplied to it through the West African Gas Pipeline (WAGP).
Speaking at the West African Gas Pipeline Project’s Committee of Ministers meeting, the MD of West African Gas Pipeline Company (WAGPCo), Walter Perez, said that Ghana had already paid a substantial amount of its debt to the gas suppliers and has said it would clear the balance by the end of 2018.
Reports have Ghana owing an estimated $160 million to N-Gas Limited, company owned by Nigeria’s state-run NNPC, Shell and Chevron, and which buys gas from oil companies in Nigeria and transport to Ghana through the WAGP.
N-Gas has an off-take agreement with Ghana to supply about 120 Mmcf/d of gas to Ghana’s largest power firm, the Volta River Authority, but supplies had fallen short recently on account of the debt.
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