White & Case Advises Ghana National Petroleum Corporation on Landmark LNG Project
2 min read
Global law firm White & Case LLP has advised the Ghana National Petroleum Corporation (GNPC) on a landmark liquefied natural gas (LNG) regasification project located in Tema, Ghana.
Under the structure of the deal, Gazprom Global LNG Limited, a global subsidiary of global energy giant PAO Gazprom (Gazprom), the world's largest gas producer, will supply LNG and convert it into gas through a regasification terminal at Tema, before selling the converted natural gas to GNPC.
The project's proposed technical configuration comprises a floating regasification barge, floating storage unit and a pipeline to an existing gas grid in Tema. The contract with Gazprom is expected to significantly increase energy security in Ghana, providing the country with approximately 250 mmcf/d of competitively-priced gas. The contract volumes will satisfy more than 1,000 MW of thermal generating capacity.
The White & Case team in London which advised on the transaction was led by partners Mukund Dhar and Chris Czarnocki, with support from associates Henry Brendon and Ahyoung Koo. The team worked closely with the GNPC legal team, led by senior in-house Legal Counsel Adwoa Afriyie Wiafe and Legal Counsel Louisa Amoako Quaicoe, and GNPC's commercial team led by Chief Executive Officer Dr Kofi Koduah Sarpong and Commercial General Manager Joseph Dadzie, as well as Ghanaian law firm Cromwell Gray LLP, led by managing partner Kissi Agyebeng with support from associates Nana Aba Akwaaba Acquaah and Dennis Frimpong Agyebeng.
White & Case partner Joshua Siaw, director of the Firm's Africa Practice, said: "We are delighted to have been given this unique opportunity to work shoulder-to-shoulder with excellent Ghanaian lawyers at both GNPC and Cromwell Gray LLP to negotiate a comprehensive and long term deal that will supply power to millions of Ghanaian customers."
Partner Mukund Dhar, who co-led the Firm's deal team, said: "White & Case has worked with GNPC and Cromwell Gray LLP to produce a commercial structure that leverages Gazprom's unique portfolio of assets and balance sheet to reduce the risk to GNPC, while at the same time facilitating Gazprom's access to a key regional market. Once completed, this project will deliver Sub-Saharan Africa's first floating regasification facility and position Ghana as a regional energy hub in Africa."
White & Case is a leading global law firm with lawyers in 41 offices across 29 countries. The Firm has been a leading advisor on African matters for more than 40 years, and was the first international law firm to establish an on-the-ground presence in Johannesburg in 1995. White & Case has won multiple awards for global oil & gas work, including its work in Africa. Most recently, Chambers Global 2017 ranked White & Case Band 1 for Projects & Energy and LNG (globally), and Band 1 for Projects & Energy (Africa-wide).
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