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| Mr Claudio Bartolotti, Vice-President of Micoperi, the offshore contractors, operating the excavator to mark the start of work |
The management of Quantum Power Ghana Limited has cut the sod for the construction of a Liquefied Natural Gas (LNG) terminal in Ghana to support power generation in the Kpone Power Enclave.
The $600 million project is expected to provide about 3.4 million tonnes of LNG per year, which is equivalent to 500 million standard cubic feet (mscf) of gas per day, through sub-sea and onshore pipelines to the Ghana National Petroleum Corporation (GNPC), the country’s natural gas aggregator, and other power producers in the country.
The project is a public, private partnership between Quantum Power Ghana and the GNPC on a build, own, operate and transfer (BOOT) basis for a period of 20 years, after which the asset will be transferred to the GNPC.
Micoperi S.p.A of Italy is the contractor of the Tema LNG Terminal which is expected to be completed in a year.
The project entails the construction of an LNG import and regasification terminal to receive natural gas in a liquid form to be turned back into its normal natural gas form to fire thermal plants in the Kpone Power Enclave, near Tema.
The project will also have a floating, storage and regasification unit (FSRU) moored 12 kilometres off the shores of Tema to allow for cost-effective refuelling and regasification without disturbing maritime and port traffic.
Benefits
The Chief Executive Officer (CEO) of Quantum Power, Mr Matty Vengerik, said the Tema LNG was expected to provide Ghana with reliable, flexible, independent and scalable fuel source for power generation.
Gas-fuelled generation is considered a cheaper alternative.
He said the project was designed to help alleviate the country's significant energy shortfall and support the government's efforts to put an end to the protracted challenges with power supply, while ensuring efficiency and cost reduction.
The CEO said the LNG terminal would also contribute to critical infrastructure required to support the country’s plan for energy security and accelerated economic growth.
Mr Vengerik said 50 years ago, Ghana was a beacon of hope and industrial revolution to its neighbours, thanks to the Akosombo Dam which generated power at a cheaper cost.
“We will be providing Ghana with the option and ability to have a completely reliable power sector that can accommodate its growth for the next decade and beyond to make Ghana a leader in the sub-region,” Mr Vengerik stated.
The Managing Director of Quantum Power Ghana Limited, Mr Ruben Atekpe, said the FSRU, being built by the Hyundai Heavy Industries Shipyard in South Korea, was expected in the country by May this year.
via: http://www.graphic.com.gh/news/general-news/work-begins-on-600-million-gas-terminal-project-at-kpone.html
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