Rosneft in Ghana, Kurdistan, Mongolia deals

ST. PETERSBURG, May 25, 2018 – Rosneft said on Friday it had agreed with Ghana National Petroleum Corporation (GNPC) to deliver LNG to the country under a long-term contract.

The Russian oil giant also struck a deal to build a gas pipeline in Iraqi Kurdistan and to develop gas resources there as well as a separate long-term agreement to ship USD 2.1 billion worth of petrol and diesel to Mongolia, Reuters reported.

Rosneft is set to supply 1.7 million tonnes of LNG per year to the port of Tema in Ghana over a period of 12 years. The Russian firm added in a statement that the deliveries would meet a quarter of the country’s energy demand.

“I am sure that as a partner to GNPC, Rosneft will play a leading role in the development of Ghana’s energy sector,” said Fredrick Blay, the chairman of the board of directors of GNPC.

The two companies also agreed to study options for co-operation on development of oil and gasfields as well as oil and oil product supplies.

“[T]he documents open up wide exploration, production and trading possibilities for the company,” said Rosneft CEO Igor Sechin.

In the Kurdistan Region of Iraq, Rosneft is to perform a pre-FEED of a gas pipeline and to seek partnerships for gas projects. The company is also hoping to produce 10,000 bopd in the region by the end of 2018, the reports added.

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