Here's how Ghana intends to cut gas prices

The government of Ghana has signed a $2 billion agreement with the Jubilee Partners to reduce gas prices and boost domestic gas consumption.

The agreement, which has already received Cabinet approval, is expected to be presented to Parliament soon for further consideration.

During a working visit by Vice President Professor Jane Naana Opoku Agyemang to the Ministry of Energy and Green Transition on January 27, 2026, the sector minister, Dr John Abdulai Jinapor, described recent developments in Ghana’s energy sector as transformational.

He stated that the signing of major gas supply agreements aimed at boosting production, lowering prices, and stabilising energy supplies.

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“We have signed a $2 billion agreement, which the cabinet has approved, and we are taking it to Parliament. It will reduce our gas price from $3.1 to $2.5. It will increase our gas consumption and increase crude oil production,” he said.

He further noted that the government has begun talks with the Sankofa Partners, which are expected to further increase gas supply, reduce costs, and boost national production levels.

“We have also signed another $1.5 billion agreement with the Sankofa Partners, and that is expected to increase gas supply, reduce prices, and increase production,” he added.

Dr Jinapor emphasised that the combination of improved gas supply, increased crude oil production, and fiscal discipline is positioning Ghana’s energy sector on a more stable and sustainable path.

These agreements form part of the government’s broader efforts to stabilise energy supply, lower production costs, and enhance oil and gas output in the country.

SP/AE

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