Tema LNG terminal construction agreement signed

Recently, Tema LNG Terminal Company Ltd., has signed an agreement with China Harbour Engineering Company for the construction of a Liquefied Natural Gas (LNG) Terminal to be sited in Tema.

The LNG Terminal is being constructed due to a 12-year gas supply agreement that was executed between the Ghana National Petroleum Corporation (GNPC) and Rosneft, which has subsequently engaged Tema LNG Terminal Company for the provision of the regasification services.

The LNG Terminal, which will be completed in 18 months, will be Sub-Saharan Africa’s first regasification terminal, strengthening Ghana’s position as a regional trade and energy hub. The facility would supply about 30% of Ghana’s total electricity generating capacity, displacing crude oil and crude derivatives as fuel sources for the generation of power.

In addition, a concession agreement was signed between the Ghana Ports and Harbours Authority (GPHA) and Tema LNG Terminal Company Ltd, allowing for the siting and operation of the facility within the Tema port It will deliver an annual revenue in excess of USD 6M to GPHA throughout the total concession period.

The Tema LNG Terminal Project is a private sector funded and driven project, led by established international sponsors, such as Rosneft, and Helios Investment Partners.

China Harbour Engineering Company will construct the marine facilities, whilst Jiangnan Shipyard of China will be constructing the floating regasification facility.

The Terminal will be transferred to the government (GNPC and GPHA) after 12 years.

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