Ghana is set to undertake the construction of the first re-gasification plant in Sub-Saharan Africa at a cost of $350 million, which upon completion will generate close to 2 million tonnes of Liquefied Natural Gas (LNG) contributing up to 30 per cent of Ghana’s total electricity annually.
As a result of the agreements signed between officials of Tema LNG Terminal Company Limited which is controlled by Helios and China Harbor Engineering Company, China Harbour Engineering has already started the expansion of Tema port.
Reports from indicate that Ghana National Petroleum (GNPC) signed a 12-year gas supply agreement with Russia’s Rosneft.
It is expected to create over 1600 job opportunities, and additionally, a concession agreement that was also signed between the Ghana Ports and Harbor Authority (GPHA) and the Tema LNG Terminal Company to allow the development and operation of the facility within the Tema Port.
According to Ghanaian president Nana Addo Dankwa Akufo-Addo, ’’If we are going to succeed in rapidly pushing the industrial development of our country, the supply of gas, which will mean even more affordable rates of power, is now a matter of very great importance for us.’’
China Harbour Engineering Company is will construct the marine facilities for the terminal, while Jiangnan Shipyard of China will build the floating regasification facility. The terminal is expected to be transferred to the Ghana Government after 12 years, according to reports from Construction Review.