Ghana has received support from Russian oil firm Rosneft for the delivery of natural gas for the country's power generation and distribution program, a release has said.
The country entered into a 12-year agreement with the Russian firm for the supply of natural gas to Ghana, according to Ghana National Petroleum Corporation (GNPC)'s release received here early Thursday.
"The supply contract is a hybrid Liquefied Natural Gas(LNG)/Gas supply agreement, where Rosneft delivers LNG to a regasification terminal located at the Tema Port, to be processed and the gas delivered to GNPC at the existing Tema metering station," it stated.
The West African country which suffered crippling power crisis between 2013 and late 2015 has a vision to become a net exporter of power in the West African sub-region.
"Ghana has placed itself among dynamically developing world economies with the energy demand growing year on year," Igor Ivanovich Sechin, Chief Executive Officer and Chairman of the Management Board of Rosneft who signed for the Russian firm, said.
The agreement signed on the sidelines of the 26th St. Petersburg International Economic Forum, St. Petersburg, Russia will have Rosneft deliver gas in the volume of 250 mmscf per day and is expected to provide a competitive and secure source of fuel.
Board Chairman of GNPC Frederick Blay, signed on behalf of GNPC.
Editor:Amber
