The Ghana National Petroleum Corporation (GNPC), has signed a Gas Sales Agreement (GSA) deal with GAZPROM.
The agreement was sealed last Friday, September 15, 2017 in Accra.
The GSA, will see GAZPROM construct a re-gasification terminal at Tema.
This is also expected to add about 1000 MW to Ghana’s power supply.
Speaking during a courtesy call by the executives of GAZPROM at the Flagstaff House, President Akufo Addo, described the move as “positive” and “one that is going to play a very important role in the economic life of Ghana.”
The President also assured the team from GAZPROM that “all of us are going to do whatever we need to do to make sure that this relationship that we have now begun to build becomes a strong positive and successful one.”
On his part, the Head International business at GAZPROM, Mr. Pavel Oderov, described the signing of the agreement as “a very big day for us at GAZPROM. Indeed, we have signed today the second biggest LNG supply contract in our portfolio.”
“With GAZPROM producing 11% of the world’s gas, we are more than honored to become a supplier of LNG to Ghana. We are absolutely sure that we will become a reliable partner for the energy industry in Ghana,” he added.
The agreement with GAZPROM replaces two signed competing contracts for the same Tema LNG project by the previous John Mahama government, which were both considered over-priced and over-sized for Ghana.