Continental Focus, International Reach

Ghana Signs Another LNG Import Deal

Sunday, September 24, 2017

Ghana has signed a second major LNG import agreement in a matter of days. The new agreement is with Russian gas giant, Gazprom. The agreement was reached between the Russian company, the Ghanaian Ministry of Energy and GNPC.

This agreement comes within days of the signing of an agreement with Equatorial Guinea for the import of LNG.
Under the terms of the deal, Gazprom will provide 250 Mmcm/d of gas to Ghana at a competitive price over a 12-year period starting in 2019. This is enough, according to sector officials to generate 1,000 MW of electricity production. This energy threshold should allow the country to take a giant step towards the eradication of electric shedding.

The contract, however, offers Ghana the opportunity to reduce this supply volume by 10% per year, if necessary. According to Citi News, the gas will be transported from Cameroon, from the SanagaSud and Ebome fields where Gazprom holds exclusive rights over the gas produced.


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