Ghanaian institutions and individuals will soon be made part of the newly formed Ghana National Gas Company (GNGC), following moves by the company to list on the Ghana Stock Exchange when GNGC begins expansion in a few years.
GNGC is expected to manage and sell natural gas discovered gas wells like the Jubilee field wells as well as develop a national network of upstream and midstream gas pipelines and gas treatment and storage facilities.
Ghana currently faces the challenge of ensuring regular power supply to households and businesses, and industry players believe GNGC, when fully operational, will develop the country’s gas resources.
However, to ensure it and other nationally important companies do not grind to a halt, analysts have suggested that they be compelled to list on the Ghana bourse to allow for public scrutiny as well as increase capital on the bourse.
In an interview with Citi News Dr Kwesi Botchway, Board Chairman of the Ghana National Gas Company, said the company has plans to offload some of its shares to the public in the future as part of its expansion plans.
Dr. George Sipa-Yankey, the former Minister of Health has been appointed Chief Executive Officer of the newly incorporated Ghana National Gas Company (GNGC), an agency of state under the Ministry of Energy.
Dr. Yankey is also a member of the five-member Board of Directors of the company, which has a former Minister of Finance, Dr. Kwesi Botchwey as Chairman.
Other members of the Board are Mr. Eric Yankah, a former Deputy Chief Executive Officer of the Volta River Authority (VRA), Thomas Manu, Director (Exploration and Production) of the Ghana National Petroleum Corporation (GNPC), and Dr. Valerie Sawyerr, a Deputy Chief of Staff at the Office of the President.
Speaking to Radio Ghana, the Chief Executive Officer of the Ghana Gas Company, Dr George Sipa Yankey, says the Company will do all it can to harness the gas resources of the country to support Ghana's industrial growth.
He said the Company aims at injecting more gas into the energy sector so as to reduce energy consumption cost.
Dr Yankey said the Company will work in partnership with the West African Gas Pipeline Project to export to other countries.