RE: ENQUIRY INTO MATTERS PERTAINING TO THE GAS SALES AGREEMENT BETWEEN

In view of the serious deficiencies of the report, and the importance of the subject matter, we intend to thoroughly analyse the committee’s so- called “findings” using the public interest yardstick. [...] At the time of the committee’s investigations, PURC had rejected the proposal to accommodate the pricing effects of the Genser agreement in the WACOG computation. [...] Subsequently, the office of the president wrote to the Ministry to confer on GNGC the status as the new aggregator of gas. [...] What they did was to simply calculate the difference between the PURC's WACoG at the time of execution of the GSA (US$6.08/mmBTU) and the contract price upon full implementation of the contract of (US$1 .72/mmBTU). [...] Despite clear exchanges between the GNPC and the Minister involving ratification for the deal, the sector Ministry, led by the Minister, could deny before the committee that he never ratified the agreement.