The government has secured a series of high-value energy agreements aimed at cutting gas prices, expanding domestic gas usage, and strengthening oil and gas production, the Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has announced.
The deals, valued at a combined $3.5 billion, form part of a broader strategy to stabilise energy supply and reduce production costs across Ghana’s power and industrial sectors.
Dr Jinapor disclosed the developments during a visit by Vice President Professor Jane Naana Opoku Agyemang to the Ministry of Energy and Green Transition on Monday, January 27.
According to the minister, Cabinet has already approved a $2 billion agreement reached with the Jubilee Partners, with the deal expected to be laid before Parliament in the coming days for consideration.
He explained that the agreement will result in a reduction in gas prices from $3.1 to $2.5, while also increasing gas consumption and supporting higher crude oil production.
“We have signed a two-billion-dollar agreement which has received Cabinet approval and will soon be submitted to Parliament,” Dr Jinapor said. “The deal will lower gas prices, increase utilisation and boost crude oil output.”
Beyond the Jubilee agreement, the minister revealed that government has finalised an additional $1.5 billion deal with the Sankofa Partners as part of efforts to further deepen energy sector reforms.
He noted that the Sankofa agreement is expected to expand gas supply, reduce costs, and improve overall production capacity.
“These agreements are designed to stabilise supply, lower operational costs and enhance oil and gas output to support national economic growth,” Dr Jinapor added.
The ministry believes the combined impact of the two agreements will strengthen energy security, improve efficiency within the sector, and create a more sustainable foundation for Ghana’s long-term economic development.
