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China and Ghana signed $350 mln LNG terminal deal

Tema LNG Terminal Company signed an agreement with China Harbour Engineering Company.

Beijing, September 3 - Neftegaz.RU. Tema LNG Terminal company on September 2, signed an agreement with China Harbour Engineering company, for the construction of a LNG terminal to be sited in Ghana´s Tema.


Tema LNG Terminal company is an entity controlled by Helios Investment Partners, the world’s largest Africa-focused private equity fund. The LNG Terminal is being constructed on the back of a 12-year gas supply agreement that was executed between the Ghana National Petroleum Corporation (GNPC) and Rosneft.


Rosneft subsequently engaged Tema LNG Terminal company for the provision of the regasification services. The LNG Terminal, which will be completed in 18 months, will be Sub-Saharan Africa’s 1st regasification terminal, strengthening Ghana’s position as a regional trade and energy hub.


In addition, a concession agreement signed between the Ghana Ports and Harbours Authority and Tema LNG Terminal company, to allow for the siting and operation of the facility within the Tema port, will deliver an annual revenue in excess of $6 million to GPHA throughout the total concession period.


The cost of the project is estimated in excess of some $350 million, of which $200 million would be spent directly in Ghana over the next 18 months.


Source : Neftegaz.RU