Business News of Wed, 1 Mar 20174
Quantum Power cut sod for first FSRU in Tema
As part of efforts to provide Ghana with the option of a reliable and cheaper power to power its thermal plants for the next decade, Quantum Power, a pan African energy infrastructure investment platform has cut sod for the construction of the Tema LNG terminal.
The terminal when completed will consist of facilities for the import, storage and regasification of liquified natural gas.
The facility will incorporate a state of the art dedicated floating storage and regasification unit, FSRU with the capacity regasify and deliver at a steadybstate up to 3.4 million tons of LNG per year, equivalent to five hundred standard cubic feet of gas per day via associated sub sea and onshore pipelines to GNPC and its customers.
The sod cutting follows the 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.
The Tema LNG project entails the construction of an LNG import and regasification terminal enabling natural gas deliveries to the Tema Region in Ghana and beyond.
The facility which is financed by Quantum Power Ghana Gas with GNPC as the custormer is designed to alleviate Ghana’s significant energy shortfall and support the Ghanaian governments efforts to put an end to Ghana’s protracted challenges with energy reliability, efficiency and cost.
Speaking at the sod cutting ceremony, the Chief Executive of Quantum Power, Matty Vengerik said the TNG terminal is the first of its kind to be implemented in sub Saharan Africa.
“This is the first terminalin the sub Saharan Africa and we are happy its installation coincides with the 60th anniversary celebration of Ghana”.
He said the “FSRU when installed will provide Ghana with a highly reliable, flexible, independent and scalable fuel source while affording significant reductions in power generation cost, with a large multiplier effect on the broader economy”.
Mr Vengerik added that the facility when completed 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 effect of unpredictable rainfall on the availability of electricity in Ghana.
The terminal will be located12 kilometres off Tema’s shores and allows for cost efficient refuelling and regasification without affecting maritime and port traffic.