{"id":656616,"date":"2019-07-15T08:15:36","date_gmt":"2019-07-15T08:15:36","guid":{"rendered":"
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\"\"<\/div> \n\n \n\n "},"modified":"2019-07-15T08:15:36","modified_gmt":"2019-07-15T08:15:36","slug":"alex-mould-cautions-govt-on-lng-re-gas-contract","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/07\/15\/alex-mould-cautions-govt-on-lng-re-gas-contract\/","title":{"rendered":"Alex Mould cautions gov’t on LNG re-gas contract"},"content":{"rendered":"

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A financial and energy expert has cautioned to government on the lack
\n of transparency in all the agreements backing some Liquefied Natural
\nGas (LNG) contracts it signed with some companies.<\/p>\n

Alex Mould, who is also the former Ghana National Petroleum
\nCorporation CEO says the\u00a0regasification project agreement contracts
\nof\u00a0Helios\/China Harbor Engineering, (GNPC) and\u00a0Rosneft LNG needs
\nchecking into.<\/p>\n

He has expressed concern about the seeming lack of proper world-class advisors on technical, commercial and legal areas of all of the LNG regasification project agreements signed a year ago on behalf of government given the short negotiation period.<\/p>\n

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Helios and China Harbor Engineering and GNPC are constructing a terminal for the regasification project which is to be managed by Tema LNG Terminal Company.<\/p>\n

GNPC, last year June, signed a new gas sale and purchase agreement
\n(GSA) deal with Rosneft for the same natural gas supply agreement it had
\n signed with Gazprom in September 2017.<\/p>\n

This raised a lot of questions by energy experts then as to what necessitated the abrogation of the Gazprom contract and the cost associated with the abrogation of that contract.\u00a0<\/p>\n

\u201cIt has been a year now, yet, stakeholders including Parliament and
\ncivil society are not getting much information about the LNG
\nregasification project from government through the Ministry of Energy or
\n from GNPC. There are more standing questions begging for answers\u201d, Mr
\nMould told the media in an interview at LNG Western Africa Conference
\n2019\u00a0in Accra. \u00a0 \u00a0<\/p>\n

\u201cI\u2019m not conversant with the details with the LNG re-gas contract. I\u2019ve not seen any agreement. I believe that there\u2019s supposed to be a breakwater being built. I don\u2019t know who is bearing the cost of the breakwater, whether it\u2019s the government as GHAPOHA or whether it\u2019s going to be passed on to the project. If it\u2019s going to be passed on to the project, we need to look at the total economics. We need to look at the supply of breakwater the gas.\u201d<\/p>\n

\u201cBut it\u2019s very interesting that a
\ntransaction of this size and this magnitude and this difficulty would be
\n signed within 3 months. It\u2019s something that we need to look at. We need
\n to make sure that all the Is are dotted and the Ts are crossed. It
\ninvolves bringing in the right consultants to ensure that the right
\nfeasibility is done before any decision is made\u201d.\u00a0<\/p>\n

\u201cIt also requires to understand what security structure is behind the
\n transaction and what commitment Ghana has made to the project. So time
\nwill tell\u201d.<\/p>\n

\u00a0<\/p>\n<\/div>\n