NPP Wrong On Sankofa Gas Deal Ė Govít

Government has accused the opposition New Patriotic Party (NPP) of deliberately misrepresenting the facts on the ENI deal to cause disaffection for the governing party during the visit of the Italian Prime Minister, Matteo Renzi.

Minority Members of Parliament (MPs) accused government of signing a bad deal with state-owned Italian oil giant ENI. But government has said the claims by the Minority MPs are erroneous.

The $7billion offshore Cape Three Points Sankofa Gas Project, sponsored by Italian Oil firm ENI, according to the Minority, will cause government to lose between 2 and 3 billion dollars in this project.

But a statement from the Petroleum Ministry said one cannot compare the cost of phase one of the Jubilee to the full field cost of Sankofa Gye Nyame.

According to government, in spite of their earlier education of the NPP on the fact that the Jubilee was a phase development project, it still compared only one phase of the Jubilee development of the total ENI project.

It added that the opposition party made a poor judgment when they compared Sankofa pricing to the West Africa Gas Pipeline, Jubilee, and TEN (Tweneboa, Enyenra, Ntomme), essentially committing error and comparing highly erratic associated gas sources of supply to firm-based load-dedicated and dependable non-associated gas supply.