Reuters is reporting that Ghana has signed agreements with two Chinese companies to build the important infrastructure it needs to begin importing LNG.
The main focus for this resurrection is the US$350 million Tema terminal project. Bringing the terminal online would make Ghana the first sub-Saharan African country to buy LNG.
The agreements signed by Tema LNG, which is backed by the private equity firm Helios Investment, reportedly include deals with China Harbour Engineering Company for the construction of the terminal’s onshore facilities and the Jiangnan Shipyard for the delivery of a FSRU.
No further financial details have been released by the Ghanaian government but it has been made clear that US$200 million of the US$350 million estimated cost of the project would be spent in Ghana itself.
Russia’s Rosneft is expected to supply the first shipments of LNG as it already has a 12 year deal to supply 1.7 million tpy with the Ghana National Petroleum Corporation. However, other suppliers had previously been lined up.
These new agreements mark the realisation of a plan for Ghana that has been in the works for two years. The country had previously come close to establishing a LNG project, however discussions with FSRU operators Golar and Höegh were hampered by contract delays and subsequent withdrawals.
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Source: Lng Industry
