The Ghanaian government has settled part of its debt to the West African Gas Pipeline Company (WAPCo) and Nigeria Gas Association, NGA, following the first round of talks with the Nigerian authorities.
Nigeria said recently it will cut gas supply by 70% to Ghana’s main power generation company due to unpaid debts of $181m. Ghana already suffers power shortages and Nigerian gas meets about 25% of its needs.
The negotiations, Naija247news reported, will continue as payment of $10m buys Ghana some time to conclude negotiations over the debt. This deal was reached with some conditions.
The partners are expected to meet over the weekend to structure out a payment plan which will be agreed on by other partners, according to Vanguardngr.com.
NGAs is owned by the Nigeria National Petroleum Corporation and other multinational oil companies including Chevron and Shell.