NATURAL GAS INFRASTRUCTURE FINANCING FOR GHANA - GUIDANCE

UNCLAS ACCRA 001296 SENSITIVE - NOT FOR INTERNET DISTRIBUTION SIPDIS E.O. 12958: N/A TAGS: ECON BTIO BBSR GH SUBJECT: NATURAL GAS INFRASTRUCTURE FINANCING FOR GHANA - GUIDANCE REQUESTED REF: ACCRA 1266 ¶1. THIS IS AN ACTION REQUEST. PLEASE SEE PARA 6. ¶2. (SBU) SUMMARY: CS Accra was approached by a U.S. company seeking assistance with potential ExIm financing for downstream gas project in Ghana. Project has a large U.S. export potential but Post has concerns about appearance to GOG if ExIM financing is granted. GOG has been under scrutiny for its treatment of U.S. companies and Post is concerned about conflicting messages to GOG by supporting financing. ¶3. (SBU) Senior Commercial Officer was approached recently by U.S. company Anadarko (strictly protect) requesting information and assistance regarding the possibility of ExIm financing for a downstream natural gas infrastructure project in Ghana. Anadarko may be meeting with ExIm soon to discuss this project directly with the Bank. ¶4. The downstream gas infrastructure project represents large potential U.S. export opportunity. Anadarko (consistent with other industry sources) estimates the U.S. content of the project to be in the range of USD 200-300 million. ¶5. (SBU) While Post is keen to promote U.S. export opportunities in Ghana, we are concerned about how support for financing may be misconstrued by the Ghanaian government and others - at a time when its treatment of U.S. companies is under scrutiny (REFTEL). Post is concerned that any rush to financing could be perceived as not supporting other U.S. companies such as Kosmos Energy. ¶6. (SBU) Given the complexity of the situation (significant U.S. export interest at stake and serious issues regarding treatment of U.S. companies in Ghana),Post is requesting written guidance from ExIm and Commerce, in consultation with the Departments of State and Justice, as to how to proceed in an appropriate manner that will support all USG interests. TEITELBAUM