The gas deal signed between the Ghana National Petroleum Corporation (GNPC) and Russian company Rosneft, is expected to create more jobs for Ghanaians, GNPC has said.

On Friday, 24 May 2018, GNPC signed a 12-year agreement with Rosneft, for the supply of natural gas to Ghana. The signing took place on the sidelines of the 25th St. Petersburg International Economic Forum in St. Petersburg, Russia.

According to GNPC, the deal will place Ghana at the centre of the energy market in West Africa and expand job opportunities for Ghanaians.

A statement issued by GNPC on Wednesday, 30 May, said: “GNPC board chairman Frederick Blay, signed on behalf of GNPC, with Igor Ivanovich Sechein, Chief Executive Officer and chairman of the Management Board of Rosneft , signing for the company.

“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.

“The gas delivered by Rosneft , in the volume of c.a 1.7 mmtpa(or 250 mmscfper day) will provide a competitive and secure source of fuel , supplying 25% of Ghana’s overall power generating capacity.

“Access to LNG places Ghana at the centre of West Africa’s rapidly growing energy market, providing opportunities to create jobs and build local capacity.”