GNPC, Quantum Power Sign Deal for Tema LNG Project in Ghana

State owned Ghana National Petroleum Corporation (GNPC) and Quantum Power have signed Heads of Terms for the construction and operation of Tema LNG project at Tema, Ghana.

The Tema LNG project will have the scalable ultimate capacity to receive, store, regasify and deliver, at steady state, of about 3.40 million tons of LNG per year, equivalent to 500 million standard cubic feet of gas per day utilizing a dedicated floating storage and regasification unit (FSRU) moored off-shore Tema, GNPC said on Tuesday.

An associated sub-sea and onshore pipeline will deliver the natural gas to GNPC and its customers onshore. The project, comprising a capital outlay of over $550 million, will be implemented on a build-own-operate-transfer (BOOT) basis with the assets transferring to GNPC after the project’s 20-year term.

The project has been under development for three years and is scheduled to come online by the end of 2016.

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