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Ghana - Sankofa Gas Project (English)

The development objective of the Sankofa Gas Project (SGP) for Ghana is to increase the availability of natural gas for clean power generation by leveraging private capital investment. The SGP supports the development of the offshore Sankofa gas field within the offshore cape three points (OCTP) block in Western Ghana, which will be developed by two private sponsors (Eni and Vitol) together with Ghana National Petroleum Corporation (GNPC). The United States (U.S.) 700 million dollars World Bank (WB) guarantees support will provide ongoing mitigation of GNPC offtake and payment risks and long-term political risks in Ghana. The WBG support to the project will underpin U.S. 8 billion dollars of foreign private investment in the economy. Overall, the development of the OCTP oil and gas block is the largest foreign direct investment opportunity in sub-Saharan Africa in recent times. The project will be structured in a manner that prudently reduces Ghana’s fiscal support at a time when macroeconomic uncertainty is affecting the investment climate.


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    Project Appraisal Document

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    Ghana - Sankofa Gas Project

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    Finance & Private Sector Development;gas;earnings before interest;Fragile, Conflict & Violence;Environmental and Social Performance;Oil & Gas;Oil and Gas;cost of electricity generation;cost of power generation;Oil and Gas Sector;external current account deficit;sustainable natural resource management;Social and Environmental Assessment;upstream oil and gas;public sector wage bill;domestic use of gas;Unincorporated Joint Venture;delivery of infrastructure service;economic and financial analysis;Risks and Mitigation Measures;Energy Sector;domestic gas;balance of payment;liquid fuel;natural gas resource;foreign direct investment;foreign private investment;independent power producer;private capital investment;power generation capacity;public sector consumer;private sector financing;power generation cost;grievance redress mechanism;consumer price index;natural gas reserves;exchange rate;Exchange Rates;prices for gas;scheme will;amount of debt;net cash flow;Energy and Mining;cash management system;Development Policy Operation;economic growth rate;supply of credit;private sector client;source of energy;flow of fund;exploration and development;gas-fired power plant;thermal generation plants;long-term concession contract;foreign exchange revenue;consumers of electricity;burning natural gas;quantity of gas;thermal power plant;debt sustainability analysis;energy sector policy;power distribution company;natural gas import;barrel of oil;domestic gas supply;Independent Power Projects;liquefied natural gas;light crudes oil;consumption per capita;Access to Electricity;readiness for implementation;capacity for implementation;national oil company;power purchase agreement;operations and maintenance;foreign currency resources;form of tax;power sector generation;investments in infrastructure;barrels per day;electricity production cost;labor intensive industry;Policy-Based Guarantee;macroeconomic and fiscal;gas sale;



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Ghana - Sankofa Gas Project (English). Washington, D.C. : World Bank Group.