Perspective
06 October 2016
Landmark $500m stand-by LC set to transform Ghana power generation
Region:
Middle East & Africa
In a ground-breaking transaction for Ghana, HSBC and Standard Chartered Bank have issued a $500 million stand-by letter of credit on behalf of Ghana National Petroleum Corporation to make payments for natural gas deliveries. The transaction is related to gas supplies from Ghana’s Sankofa gas field and will be transformational in the development of power generation within Ghana.
