The Ranking Member on Parliament’s Mines and Energy Committee, John Abdulai Jinapor, has disassociated himself from the contents of the Genser Energy and Ghana National Petroleum Corporation (GNPC) Sales Agreement Report.

He said the report does not accurately reflect his views and that of the entire Minority in Parliament. 

In a statement issued on Thursday, August 17, he urged the public to disregard the report.

“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.”

“More importantly, it is inaccurate to report that the entire membership of the committee disagreed with my position.”

The Yapei-Kusawgu MP also said the report purportedly signed and released by the Chairman of the Mines and Energy Committee of Parliament, Samuel Atta-Akyea, contains factual inaccuracies.

Mr Jinapor concluded that, “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 Public Utility Regulatory Commission.”

“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?”

Read his full press release below

Press Release

For Immediate Release

17th August, 2023

REPORT ON GENSER/GNPC GAS SALES AGREEMENT

My attention has been drawn to 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.

More importantly, it is inaccurate to report that the entire membership of the committee disagreed with my position.

More importantly, 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.

-Signed-
John Abdulai Jinapor—MP
(Ranking Member Mines and Energy Committee)