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Russia's Rosneft signs agreements to supply gas to Ghana

Rosneft gave Ghana's energy industry a shot in the arm Friday, signing a package of documents to supply natural gas to Ghana National Petroleum Corporation.

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Russia's biggest energy producer will deliver liquefied natural gas of around 1.7 million mt/year (or 250 million cubic feet/day) to the port of Tema over 12 years.

Rosneft gas supplies will satisfy a quarter of Ghana's energy demand, strengthen its energy security and reinforce the country's position as the key LNG hub in the region.

"The signed documents open a new stage in the development of cooperation between Russia and Ghana," Rosneft Chief Executive Officer Igor Sechin said. "Rosneft is capable of meeting this [growing Ghana] demand including also through LNG and natural gas supplies. Further, the documents open up wide exploration, production and trading possibilities for the company."



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

Rosneft and Oranto Petroleum Limited in Nigeria also signed Friday a memorandum of understanding on potential cooperation in the implementation of oil and gas projects in Africa.

-- Staff, newsdesk@spglobal.com

-- Edited by Jonathan Loades-Carter, newsdesk@spglobal.com