GNPC announces agreement with Quantum Power to build LNG facilities for Ghana

The Ghana National Petroleum Corporation (GNPC) has announced an agreement terms with Quantum Power for the construction and operation of the Tema LNG Import Terminal.

In a press release issued Monday February 8, 2016 the GNPC said the two organizations 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 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,” it said, adding that, “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.”

According to the GNPC, commencement of operations is scheduled for the end of 2016.

“The Tema LNG Project has been under development for three years,” the release said.

By Emmanuel K. Dogbevi