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Business News of Friday, 23 June 2017


Ghana signs MOU with Equatorial Guinea for gas supply

Ghana has entered into a Memorandum of Understanding with counterpart Oil producing country Equatorial Guinea for the supply of Liquified Natural Gas (LNG)

This was revealed by the Equatorial Guinea Minister of Mines, Industry and Energy at the 8th Ghana Oil and Gas Summit in Accra on Thursday

He noted that the agreement is part of a broader project his country is embarking on to ensure African countries have sufficient energy.

“I have to say and I want to thank my fellow Energy minister from Ghana that yesterday we signed an initiative it’s called Energy to Africa and we are starting with Ghana. We have signed a MOU to look at the possibility for us to send LNG because it is very sad that we can negotiate contract with Chile, Korea, Singapore but we cannot send a single drop to Africa” he revealed

Obiang Lima also proposed more partnerships within the African continent to greatly boost revenue and energy supply within continent

He emphasized that if Oil producing countries in Africa work together, they can surpass Oil giants like Saudi Arabia and Russia.

He disclosed that “if African Oil producing countries all work together, we will have a bigger impact than even Saudi Arabia and Russia put together”

Minister of Energy, Boagye Agyarko praised his Equatorial Guinea counterpart for the contribution of his country in Africa’s Oil and Gas industry

He noted that government will continue to put in the necessary measures to ensure consistent power supply in the country.

The 8th Oil and Gas summit is a two day event which affords industry players the opportunity to network.

Day two of the event includes an exhibition by the various stakeholders in the industry.