The West African Gas Pipeline Company (WAPCo) has begun discussions with government and the Volta River Authority (VRA) over payments of arrears owed private Nigerian joint venture capital company N – Gas.
N-Gas has threatened to cut gas supply to Ghana between Wednesday and Thursday if the Volta River Authority (VRA) fails to honor its debt obligations.
Citi Business News has gathered that as at August 2014 VRA owed N – Gas about 180 million dollars.
But in an interview with Citi Business News General Manager of West African Gas Pipeline, Harriet Wereko Brobbey said N-Gas has issued a warning that it will curtail gas supply even though some amount has been paid by VRA.
“Yes we have been engaging with them because the company survives on the transportation tariffs, it is the transportation service that we provide. Payment for that service that is being used to run the company and to pay and honor our obligations like the investments made by our investors and we are as a company surviving on the transportation tariffs. So of course it’s a logical conclusion that if you are surviving on something or revenue and is not coming then how do you survive.”
Therefore we have been interested in making sure that N- Gas is in a position to pay us for the transportation service that we are rending to them ie they get paid by the VRA by engaging the VRA to try and make payments, General Manager of West African Gas Pipeline, Harriet Wereko Brobbey said.
source: citifmonline
