Quantum Pacific and Golar LNG to build Ghana LNG Terminal

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Quantum Pacific and Golar LNG to build Ghana LNG Terminal

Quantum Power Ghana Gas, a subsidiary of Quantum Pacific, has signed an agreement with Golar LNG to build a liquefied natural gas import terminal in Ghana.

Golar LNG will provide an offshore floating storage and regasification unit, which is currently being developed by Samsung Heavy Industries in South Korea. The firm will aso provide technical, engineering, design and construction services.

Matty Vengerik, Managing Director of Quantum Power, stated:

We are delighted to have Golar joining us in this innovative project and we are very excited to partake in alleviating an important burden on Ghana’s economic growth.

Don Ackah, chief executive of Quantum Power Ghana Gas, commented:

A lot of work has already been done with payments committed to parts of the Tema LNG project. We are now aiming to complete all government approvals and secure gas supply and sales agreements for a final investment decision in the last quarter of this year.

The new gas terminal will be located offshore from the eastern port city of Tema. According to sources the new facility will provide gas directly to Ghana’s main generator and supplier of electricity Volta River Authority (VRA) by mid-2016. Same sources reported that talks are underway with French oil services firm Technip to construct subsea and onshore pipeline networks to deliver gas to Tema

The project involves the development of a liquefied natural gas storage and a re-gasification and delivery facilities to deliver at least 250 million cubic feet of LNG daily or 1.75 million tonnes annually to the Tema project.

The total project investment is estimated at US$500 million.

The Ghanaian government is also planning a supply arrangement for LNG to be delivered to the terminal from Qatar. Obsolete equipment and shortage of funds cause frequent energy supply breakdowns in Ghana. New sources of energy are extremely important for this country.

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