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Monday, June 4, 2018
Russian firm Rosneft signed a sales agreement with its Ghanaian counterpart, GNPC, which will allow about 1.7 Mtpa of LNG to be delivered for more than 12 years.
The agreement signed in the framework of the St. Petersburg International Economic Forum also obliges the Russian side to regasify gas exported to the port of Tema as Ghana does not currently have an LNG import terminal.
The agreement still needs the greenlight from both companies’ board of directors to move forward.
Rosneft said its supplies could meet a quarter of local energy demand. Ghana hopes to produce electricity with its LNG to resell it on the regional market.
In addition to this arrangement, the two parties agreed in another framework cooperation agreement to jointly develop oil and gas projects and the supply of refined products.
Last September, another Russian company, Gazprom signed an agreement to deliver the same volume of LNG to Ghana. Exports are expected to start from 2019.
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