Mines Committee doesn’t support GENSER/GNPC Gas Sales Agreement – Jinapor

The ranking member on Mines and Energy Committee, John Abdulai Jinapor has stated that it is inaccurate that Mines Committee supports GENSER/GNPC Gas Sales Agreement.

This comes on the back of a report on some social media platforms allegedly signed by the chairman of the committee on Mines and Energy, Hon. Samuel Atta-Akyea on the Gas Sales Agreement (GSA) between Genser Energy and GNPC.

“For the avoidance of doubt, I wish to categorically disassociate myself from the content and intents of the said report as it does not accurately reflect my position and that of the minority in its entirety.

“Firstly, it is true that I have consistently maintained that the GSA is not fairly priced and will result in significant losses to the state. It cannot therefore be the case that I disagreed with the position of ACEP/Imani that the GSA in its current form will result in huge losses to the state,” Mr. Jinapor indicated in a statement.

According to him, it is inaccurate to report that the entire membership of the committee disagreed with his position.

The ranking member further stated the said report contains factual inaccuracies and assumptions that do not address the key issues of value for money.

“From the evidence, the current Genser/GNPC gas price of US$2.790/mmBTU is far lower than the actual commodity price of US$4.879/mmBTU as approved by the PURC.

"The critical question the report fails to address is which entity will eventually pay for the price differential of about US$2mmBTU, which runs into billions of cedis over the contract tenure?

“It is my hope that the referral by the speaker to the joint committees of the Finance/Mines and Energy will provide the opportunity to address the critical issues as noted,” the lawmaker concluded.