Ghana National Petroleum Corporation and Quantum Power, the pan-African energy infrastructure investment platform, said on Tuesday they have signed heads of terms for the construction and operation of the LNG import facilities at Tema.
The Tema LNG project will have a capacity of about 3.40 million tons of LNG per year, equivalent to 500 million standard cubic feet of gas per day, utilizing a floating storage and regasification unit (FSRU) moored 12 kilometres offshore Tema.
An associated sub-sea and onshore pipeline will deliver the natural gas to Ghana’s National Oil Company 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 two companies said in a joint statement.
The LNG project will play “ an increasing role in meeting Ghana’s growing energy demand; providing the Ghanaian power generation industry with a highly reliable and clean fuel supply to meet projected power and industrial needs over the next 20 years ,” the statement said.
Commencement of operations is scheduled for the end of 2016.