The West Africa Pipeline Company (WAPCO) has resumed full supply of gas to Ghana following the payment of 10 million dollars of an outstanding $19 million obligation to WAPCO. The delay in payment was attributed to the holiday breaks and documentation.
The Ghana National Petroleum Company (GNPC) owes WAPCO $19 million. Analysis of the transfer dates of monies to GNPC shows that the company is unusually delaying payment to WAPCO. These disruptions would not have occurred if GNPC were to have affected transfers promptly as it receives the monies structured under the Cash waterfall Mechanism.
From our check, GNPC owes about $12 million from August 2023, under the restructured Cash Waterfall Mechanism. Sources at the Ministry indicate that close to $9 million was transferred to GNPC. In effect, GNPC had the necessary funds to keep current on its account with WAPCO, but for some unexplained reasons, it failed to do so. This may have accounted for the reason why WAPCO curtailed gas supply hence the disruption in power supply across the country.
