Lagos - For failing to meet their contractual obligations on gas supply to the Ghana’s electricity producing company, the Nigerian National Petroleum Corporation (NNPC), Shell Petroleum Development Company (SPDC) and Chevron have been fined $20 million.
The companies are owners of of N-Gas, the main supplier of gas to Ghana’s largest power producer, Volta River Authority (VRA) through the West African Gas Pipeline (WAGP), reports ThisDay.
Gas supply from N-Gas to VRA has fallen to 50 million standard cubic feet, 58 per cent below the expected 120 million contractual volume due to VRA.
The shortfall, has forced VRA to spend $55million every three weeks to import crude oil to power its thermal plants.
The companies have already paid $10 million out of the fine, remaining an outstanding of $10 million.
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