The Managing Director of the West African Gas Pipeline Company Limited (WAPCo), Mr. Gregory Germani, said the company’s tariffs are now more competitive, fair and transparent and guarantee adequate and significant returns on investment.
Germani, who was speaking at the 10th anniversary celebration of the company’s start of commercial operations in Tema, said the achievements and operational focus were not limited to gas transmission alone.
WAPCo, owner and operator of the West African Gas Pipeline (WAGP), began commercial operations in 2011 transporting natural gas to Nigeria, Benin, Togo and Ghana in a safe, responsible and reliable manner to create value for our various stakeholders.
WAPCo is owned by Chevron West African Gas Pipeline Limited (36.9%); Nigerian National Oil Company (24.9%); Shell Overseas Holdings Limited (17.9%); and Takoradi Power Company Limited (16.3%), Société Togolaise de Gaz (2%) and Société BenGaz SA (2%).
He said that to help build capacity in the gas sector, most vacancies in the country were filled locally, contributing to improved quality of life in host communities.
He said that in Ghana, the company’s social investment programs intentionally focus on education, health and capacity building.
“Our social interventions are driven by our strong relationships with our communities and WAPCo has a long-standing commitment to providing essential support to help advance social progress in these communities,” he said.
He said it was important to remember that the West African Gas Pipeline (WAGP) was the product of a vision of the Economic Community of West African States, a dream of a gas pipeline across the West African sub-region, with a promise of economic integration. among the Member States.
“You will agree with me that the creation of the WAGP with its guarantees of cost-effective, safe, cleaner and reliable energy for electricity generation has contributed to regional economic growth and development, benefiting families, communities, businesses and industries across the region,” he added.
Mr. Germani said that over the years, WAPCo, together with shareholders and key regional stakeholders, has been able to achieve several key milestones.
He said that with the support of the government, through the Ministry of Energy and other partners, an extension of the WAGP has been completed under the Takoradi to Tema Interconnection Project (TTIP).
“This added natural gas resources from Ghana to supply WAGP customers,” he said.
The TTIP involved an extension of delivery capacity from 140 MMscfd to 235 MMscfd at their Tema facility and a new control room with additional key equipment to improve monitoring and control of the facility.
The increased capacity of the site became commercially operational on June 1, 2020.
“We would like to thank the Minister of Energy for graciously unveiling a memorial at our facility this morning to commemorate this achievement,” he said.
Following the completion of TTIP, the combination of gas supply from Nigeria and Ghana and growing demand at our delivery stations in Tema, Lomé and Cotonou, WAGP is seeing record levels of delivered volumes and a project growth on the horizon.
Dr. Mohammed Amin Adam, Deputy Minister of Energy, called on WAPCo and gas producers to review their business plans with a view to taking advantage of new emerging markets.
“While continuing our desire to find innovative means of financing gas projects in line with our policy of developing our gas resources as a transition fuel for the transformation of our economies,” he said.
The Minister urged WAPCo to build on the experiences gained to collaborate more with other partners in the sector to make Ghana a hub for reliable, efficient and cleaner power generation, not just for Ghana’s development alone. , but for the entire West African region. .
He said, “We are celebrating 10 years of business operations, which is testament to the fact that regional integration and development can be achieved when countries pull together.”
He said that although Ghana has undertaken to develop its own domestic fields for obvious economic and strategic reasons, this has in no way impacted WAPCo’s operations or made the pipeline redundant.
The Minister said that despite the challenges faced in the past, GAO’s contribution to ensuring the country’s energy security could not be underestimated and the government was relentless in ensuring that WAPCo’s operations become financially stable.