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Wednesday, April 16, 2014
Reports have the Nigerian government paying Ghana some $10 million in compensation for its failure to meet the gas supply agreement the two entered into in 1999. Under the agreement Nigeria was required to supply Ghana with 123 MMBtu/d however, Nigeria was said to have failed to meet the target, supplying only 30 MMBtu/d and less sometimes.
The Director of Planning and Business Development of the Volta River Authority (VRA), Kofi Ellis, speaking on TV3 said that Ghana has been paid $10 million as damages by Nigeria over the shortfall as stipulated in the gas supply contract.
“The contract already stipulates some liquidated damages for reduction in supply,” Ghanaweb quoted Ellis to have said. “I know that already we have been paid some damages for the reduction in supply,” he added.
Recently Ghana was challenged by Mohammed Amin Adam, executive director of the Africa Center for Energy Policy (ACEP), to develop its own gas sector. Adam believes that for various reasons relying on gas imports from Nigeria is not the best option as Nigeria is looking to get better prices from other markets.
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