Ghana National Petroleum Corporation (GNPC) - Ghana’s National Oil Company, and Quantum Power, the pan-African energy infrastructure investment platform, are pleased to announce that they have signed Heads of Terms for the construction and operation of the liquefied natural gas (LNG) storage, regasification and delivery facilities at Tema, Ghana (the “Tema LNG Project”).
The Tema LNG Project will have the scalable ultimate capacity to receive, store, regasify and deliver, at steady state, of about 3.40 million tons of LNG per year, equivalent to 500 million standard cubic feet of gas per day utilizing a state-of-the-art dedicated floating storage and regasification unit (FSRU) moored off-shore Tema. An associated sub-sea and onshore pipeline will deliver the natural gas to GNPC and its customers onshore. The Tema LNG Project, comprising a capital outlay of over $550 million, will be implemented on a build-own-operate-transfer (BOOT) basis with the assets transferring to GNPC after the Project’s 20-year term.
The Tema LNG Project has been under development for three years, involving some of the world’s most experienced engineering teams collaborating on an innovative design to address the specific maritime challenges in the Gulf of Guinea, while assuring optimal year-round operability. The terminal, which will be located 12 kilometres off Tema’s shore, allows for cost-efficient refuelling and regasification without affecting maritime and port traffic.