The first week of February saw structural changes in the management of Ghana Gas. On 4 February the original board, headed by Kwesi Botchway, was dissolved. The following day John Armstrong Yao Klingo was installed as chair of the newly established board. Botchway’s board was replaced because of political conflict from the Ghana Gas and the Ghana National Petroleum Corporation (GNPC) merger. The only member to survive the succession was Ghana Gas Chief Executive George Sipa Yankey.
The new five-member board reflects Ghana Gas’ position as a subsidiary of GNPC, and, more specifically, GNPC’s influence over Ghana’s gas sector. It should reduce conflict within the industry more generally. Alexander Mould, GNPC’s CEO, is taking a major role in the new board. The merger of Ghana Gas and GNPC strengthen both corporations’ abilities to partake in the upcoming TEN offshore project, as a revenue stream from the Jubilee-field to GNPC is guaranteed.
In Ghana Gas’ short existence it has become heavily indebted, mainly due to shortcomings from its clients, Ghanaian state-owned power companies. Ghana Gas’ new board faces a number of challenges, including debt management. However, the new board is less politically charged, comprised of GNPC-friendly members, and it is expected to function in tandem with GNPC – increasing its productivity and efficiency.
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