LNG cooperation deal to supply Ghana port

The gas supply agreement will allow Tema port to satisfy a quarter of Ghana's energy demand Photo: Ghana Ports and Harbours Authority The gas supply agreement will allow Tema port to satisfy a quarter of Ghana's energy demand Photo: Ghana Ports and Harbours Authority

Rosneft and the Ghana National Petroleum Corporation (GNPC) have signed a cooperation agreement to supply Ghana’s port of Tema (Ghana) with LNG for a period of 12 years.

This gas supply agreement will allow the port to satisfy a quarter of Ghana's energy demand, strengthen its energy security and help reinforce the country's position as the key LNG hub in the region.

"We are happy to cooperate with Rosneft, one of the global oil majors, under such a large-scale agreement. I am sure that as a partner to GNPC, Rosneft will play a leading role in the development of Ghana's energy sector,” said Fredrick Blay, Chairman of the Board of Directors, GNPC.

Joint study

Rosneft and GNPC have also signed a framework cooperation agreement that envisages a joint study of high-priority directions of mutually beneficial cooperation in development of oil and gas fields, oil and oil product supplies.

"The signed documents open a new stage in the development of cooperation between Russia and the Republic of Ghana,” said Igor Sechin, chief executive officer, Rosneft.

“Ghana has placed itself among dynamically developing world economies with the energy demand growing year on year. Being a global energy company, Rosneft is capable of meeting this demand including also through LNG and natural gas supplies.”

The agreement includes the supply of a volume of ca. 1.7 mmtpa per day (or 250 mln standard cubic feet), along with its regasification using the processing capacities of Tema terminal.

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