Project Profile
Value: US$500 million
Location: offshore from the eastern port city of Tema, Ghana
Capacity: 250 million cubic feet of LNG per day, or 1.75 million tonnes annually
Start-up Year: mid-2016
Ghana National Petroleum Corp. (GNPC) has signed a heads of terms deal with Quantum Power on the Tema LNG project, under which gas will be supplied to a floating storage and regasification unit (FSRU) in the West African country. The terminal is valued at US$550 million.
The facility is to be situated offshore from the eastern port city of Tema, will provide gas directly to the state-run Volta River Authority (VRA) by mid-2016 to boost power generation. West Africa\'s Ghana is grappling with a power crisis caused by the frequent breakdown of ageing equipment and shortage of funds to purchase light crude for thermal generation.
Quantum Power signed a deal securing the Golar Tundra, from Golar LNG, in August 2014. The companies had hoped to reach a final investment decision (FID) in the first half of 2015. First gas was to be delivered in early 2016. However, Golar signed a deal with West African Gas Ltd (WAGL) in November 2015 on the Golar Tundra FSRU on work at Tema. Subsidiaries affiliated with Nigerian National Petroleum Corp. (NNPC) have a 60% stake in WAGL, while the remaining 40% is held by Nigeria’s Sahara Energy Resource.
Under the deal, Bermuda-headquartered Golar LNG will provide an offshore floating storage and regasification unit. Talks are also underway with French oil services company Technip to construct subsea and onshore pipeline networks to deliver gas to Tema. The floating unit, currently being constructed by Samsung Heavy Industries in South Korea, will have the capacity to deliver at least 250 million cubic feet of LNG per day, or 1.75 million tonnes annually. In addition, the Ghanaian government planned a state-to-state supply arrangement with Qatar for LNG to be delivered to the terminal.
Operators:
Ghana National Petroleum Corp (GNPC): 50% interest
Quantum Power: 50% interest
Contractors:
Samsung Heavy Industries: EPC contract for the offshore floating storage and regasification unit
Hoegh LNG: Contracted to provide a floating storage and regasification unit
Micoperi: EPC contract (Dec, 2016)