An audit and accounting firm, PWC Ghana, has been appointed by the government as transaction advisor to help in the transfer of its interest in the Ghana National Gas Company (GNGC) to the Ghana National Petroleum Corporation (GNPC).

According to a statement signed by the Minister of Finance, Mr Seth Terkper, the move would ?consolidate the upstream and midstream gas sub-sector under a single institution to ensure efficiency, increased value creation and sustainable national development outcomes?.

PWC will also ?assist GNPC with the successful and effective integration of GNGC?.

The appointment of a transaction advisor follows the approval by the government of the takeover of GNGC by GNPC.

In addition, GNPC plans to use between US$200 million and $300 million as part of measures to provide adequate financial security for the OCTP gas project.?

Source: Andrew Nettey


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