Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Höegh LNG : Awarded Long Term FSRU Contract In Ghana

banner_0002_layer-8Höegh LNG signed on 1 December 2016 an FSRU contract with Quantum Power Ghana Gas Limited (“Quantum Power”) for the Tema LNG import terminal located close to Accra in Ghana (“Tema LNG Project”). The Tema LNG Project is supported by the Ghana National Petroleum Corporation (GNPC), Ghana’s national oil and gas company.

The contract is for a period of 20 years with a five year extension option for charterer and is expected to generate an average annual EBITDA of around USD 36 million. The contract is subject to Quantum Power obtaining necessary governmental approvals, financial close and both parties’ board approval.  The infrastructure construction for the project is planned to start mid 2017 and expected delivery time for the FSRU is 6 – 12 months following commencement of the construction work. The FSRU will be provided from Höegh LNG’s portfolio of FSRUs, including units under construction, the planned conversion FSRU or planned newbuilding orders.

Höegh LNG’s President and Chief Executive Officer, Sveinung J. S. Støhle, said in a comment: “We are delighted to have been awarded the contract with Quantum Power for their new LNG import terminal in Ghana, and look forward to completing the project together with our client. Our modern FSRU solutions offer our client the quickest, most cost efficient and flexible way of importing LNG. With this contract we have full contract coverage for our FSRU fleet.”

Quantum Power’s CEO, Matty Vengerik, said in a statement “We are delighted to partner with Höegh LNG to deploy this cost-efficient and clean fuel supply infrastructure solution to Ghana. This is the first such project to be implemented in sub-Saharan Africa. Höegh LNG’s FSRU solution is a key service component of the natural gas delivery chain that will enable the execution of the Tema LNG Project as well as supplying the growing demand of natural gas in the Tema region and beyond. We expect the LNG import terminal to transform the reliability and competitiveness of the power generation and natural gas markets in Ghana and are looking forward to a long term relationship with Höegh LNG.”

Source: http://www.peacefmonline.com/pages/business/news/201612/301008.php

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar