The Board and Management of Ghana National Gas Limited Company (Ghana Gas) have issued a clarification regarding recent media reports alleging irregularities in the company’s procurement processes, particularly concerning its insurance contract renewals.
According to the statement, the concerns largely stem from changes in the company’s lead insurer this year, following the natural expiration of existing insurance contracts at the end of the previous term.
Management emphasised that the transition formed part of routine operational procedures and was not associated with any misconduct.
Ghana Gas categorically denied any wrongdoing, stating that the new insurance arrangements are fully lawful and were introduced as part of an improved risk management strategy aimed at strengthening the protection of the company’s assets.
The company further explained that all contracts awarded during the period in question underwent the necessary approval processes as required by law.
These approvals, it noted, were granted by the Public Procurement Authority (PPA), following prior commitment authorizations from the Ministry of Finance.
Reaffirming its commitment to transparency and accountability, the Board and Management assured stakeholders and the general public that Ghana Gas remains focused on its core mandate of delivering natural gas efficiently and reliably to meet the country’s energy demands.
The statement also highlighted that, in line with good corporate governance practices, the company will continue to review and strengthen its internal systems and procedures where necessary.
This, it said, is to ensure compliance, risk management, and governance standards are consistently upheld for the benefit of the organisation and its stakeholders.
Management reiterated that such periodic reviews are standard practice in well-structured institutions and are essential for maintaining operational efficiency and public trust.
Ghana Gas concluded by assuring the public of its continued commitment to delivering on its mandate while upholding the highest standards of corporate integrity and accountability.
