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Nigeria is failing to become the West African gas hub, as it has potential to become, making Ghana turn east, to Russia’s Rosneft to take delivery of Liquefied Natural Gas (LNG) as the West African Gas Pipeline Company (WAGPCo) battles disruptive factors to its operations.
Ghana, in recent times, has been experiencing frequent power cuts due to the inability of the West African Gas Pipeline Company (WAGPCo) to supply gas to the country from Nigeria. WAGPCo, operator of the West African Gas Pipeline (WAGP), has shut down its operations or reduced gas supply several times, either as a result of vandalised pipelines or due to huge debts owed by Ghana to Nigeria for gas supply.
Russia’s Rosneft, May 26, signed a deal with the Ghana National Petroleum Corporation, under the terms of the 12-year deal that it will supply 1.7 million tons of LNG per year.
The volumes will be re-gasified at GNPC’s processing facilities at the port of Tema where the company is developing an LNG import terminal.
Rosneft gas supplies will cover a quarter of Ghana’s energy demand and strengthen its energy security, Gazprom said in a statement on May 26. At an economic forum in St. Petersburg, Russia, Rosneft and GNPC also signed a framework cooperation agreement that envisaged a joint study of high priority directions of mutually beneficial cooperation in the development of oil and gas fields, oil and oil product supplies.
