Ghana LNG project nears completion

ACCRA, February 10, 2016 – Ghana National Petroleum Corporation and energy investment platform Quantum Power have entered into a heads of terms agreement for the 20-year build-own-operate-transfer Tema LNG project.

Comprising a floating storage and regasification unit located 12 kilometres offshore, the USD 550-million project is designed to receive, store and process the equivalent of some 14.2 mcm (500 mcf) per day.

The Tema LNG venture has been under development for three years and is scheduled to be commissioned before the end of 2016. The built-in scalability of the project will ensure that it can keep pace with Ghana’s growing energy demand.

Commenting on the agreement, Ghana National Petroleum CEO Alexander Mould called the venture a “critical component” in the country’s drive for energy security.

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