Quantum Power cuts sod for Tema LNG Terminal

March 13, 2017
Source: thebftonline.com/Ghana
Quantum Power cuts sod for Tema LNG Terminal

Quantum Power, the pan-African energy infrastructure investment platform, has cut sod for the construction of the Tema LNG Terminal, consisting of facilities for the import, storage and regasification of liquefied natural gas.

The Tema LNG Terminal has been designed to help alleviate Ghana’s significant energy shortfall and support the Government’s efforts to put an end to Ghana’s protracted challenges with energy reliability, efficiency and cost.

The Terminal is being implemented on a built-own-operate-transfer basis with Ghana National Petroleum Corporation (GNPC) as the customer in its role as the national gas aggregator.

Tema LNG contributes a critical infrastructure component to support the Government’s plan for energy security and accelerated economic growth; it has been designed to be scalable and flexible to meet Ghana’s growing energy demand.

The Terminal will provide Ghanaian power generators with a highly reliable supply of clean fuel for the current and projected future needs, enabling GNPC to efficiently match domestic power demand with gas supply, and mitigate the effects of unpredictable rainfall on the availability of electricity in Ghana.

The Tema LNG Project has been under development for four years, involving some of the world’s most experienced engineering teams collaborating to addresses the specific challenges of the Gulf of Guinea.

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.

It incorporates a state-of-the-art dedicated floating storage and regasification unit (FSRU) moored off-shore Tema, with the capacity to import, store, regasify and deliver, at a steady state up to 3.4 million tons of LNG per year, equivalent to 500 million standard cubic feet of gas per day, via associated sub-sea and onshore pipelines to GNPC and its customers.

The ground-breaking follows the execution in 2016 of a 20-year Facilities Use Agreement with GNPC, an Engineering, Procurement and Construction (EPC) contract with Micoperi S.P.A., and a long-term Time Charter Party Agreement for the FSRU with Höegh LNG.

Matty Vengerik, CEO of Quantum Power said: “The Tema LNG Terminal is the first of its kind to be implemented in sub-Saharan Africa and we are delighted that the ground-breaking ceremony is coinciding with Ghana’s 60th anniversary celebrations. Tema LNG will provide Ghana with a highly reliable, flexible, independent and scalable fuel source, while affording significant reductions in power generation costs, with a large multiplier effect on the broader economy. Quantum Power is proud to collaborate with GNPC in delivering such a strategic national initiative.”

Quantum Power is a pan-African energy infrastructure investment platform, currently operating in Ghana, Kenya, Mozambique, Namibia, Nigeria, Rwanda, Senegal, South Africa and Zambia, with administrative offices in London and Cyprus.

Quantum Power is affiliated with the Quantum Pacific Group, an international group of businesses with interests across a broad range of industries and geographies, focusing on shipping, chemicals, energy and transportation.