President Nana Addo Dankwa Akufo-Addo has described the Liquefied Natural Gas (LNG)sales agreement reached between the Ghana National Petroleum Corporation (GNPC) and Gazprom as ‘positive’ and ‘one that is going to play a very important role in the economic life of Ghana.’
According to the President, the decision taken by Gazprom to establish a base in Ghana is a testament to the efforts his government has put in place over the last eight months to provide a better framework to encourage private sector participation in the growth of the economy.’
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 on Friday, President Akufo Addo 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.