THE Ghana National Gas Company (GNCG) is finalising its 2012 accounts to appropriately answer queries raised by the Public Interest Accountability Committee (PIAC) on the issue of misappropriation of GH¢20 million of the company’s operational capital.
The PIAC, in January this year, raised concerns over the GNCG’s inability to account for GH¢20 million of its operational funds released to it by the Ministry of Finance and Economic Planning.
The PIAC had, in a letter to the GNCG, requested the company to account for the said amount for publication in its report.
In his response to a questionnaire submitted by the Daily Graphic on the concerns raised by the PIAC, the Head of Corporate Communications at the GNCG, Mr Guure Brown Guure, said the company’s statutory accounts covering the period from January 1 to December 31, 2012 were being finalised for its officials to respond to the issues raised by the PIAC.
According to him, as a result of an administrative lapse, the letter from the PIAC requesting the GNCG to report on the said amount did not get to the appropriate desk.
“We have since traced the request and apologised accordingly to the PIAC, as well as assured it of our preparedness to share our audited accounts with it once the accounts are ready,” Mr Guure said, adding, “The GNCG is, therefore, not able to account for the GH¢20 million capitalisation amount now.”
He said contrary to claims that the amount had been misappropriated, the GNCG had used it to finance the conduct of aerial topographic and geographical studies necessary to map out the general construction area, as well as examine the dynamics of the terrain.
The two studies, he said, encompassed the onshore natural gas pipeline system area made up of a 111-kilometre main pipeline from Atuabo to Ntwaaban and a 75- kilometre lateral pipeline area from Essiama to Prestea.
Mr Guure said the environmental and social impact assessment of the gas processing plant to determine its long-term viability and assess potential risks and impact on the environment and communities in and around the project area to determine the relevant mitigating measures had to be integrated to eliminate such factors.
“Part of the money also went into the funding of construction enabling works along major bridges linking the project site to reinforce the structures to enable line pipes and other heavy equipment to be transported across,” he said.
Asked why the project continued to delay, he stated that some social, environmental and financial reasons, including issues with deities (smaller gods) at the project site, and procedural challenges in advance payments due Sinopec, the main contractor, had accounted for the delay of the project.
“These challenges have so far been resolved and the project is progressing in earnest,” Mr Guure said, adding, “Ghana Gas is, therefore, confident that with the current pace of progress, the project should be completed by the third quarter of this year.”
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