Ghana Gas is indebted to Nigeria for the supply of gas which costs $160million.
The gas was supplied to the Volta River Authority, from Nigeria through the West Africa Gas Pipeline.
N-Gas Limited, a company owned by the Nigerian National Petroleum Corporation, Chevron and Shell, buys gas from oil companies in Nigeria and transport it to Ghana through the $1bn WAGP.
The pipeline, which is operated by the West Africa Pipeline Company Limited, was built to supply natural gas from Nigeria to customers in Benin, Togo and Ghana.
N-Gas has an off-take agreement with Ghana to supply 120 million standard cubic feet of gas per day to the VRA.
But supply to the country had fallen short of the contractual volume in recent years.
General Manager, Corporate Affairs, West Africa Gas Pipeline Company Limited, Harriet Wereko-Brobby said, “there is a current arrangement between the gas suppliers and the off-taker that the volume will be 60mmBtu.”
She said the off-taker (VRA) had established a payment security arrangement for gas consumed to halt “debt accumulation going forward.”
According to her, there is still an outstanding debt of $160m to be paid to the supplier, and it is expected that about $30m will be paid shortly.