GHANAIAN, CHINESE COMPANIES SIGN DEAL FOR LNG TERMINAL

BEIJING– Ghana’s Tema LNG Terminal Company Limited has signed an agreement with China Harbour Engineering Company for the construction of a liquified natural gas (LNG) terminal to be sited in Tema, some 20 kilomeres from the capital, Accra.

The terminal is being constructed as part of a 12-year gas supply agreement executed between the Ghana National Petroleum Corporation (GNPC) and Russia’s Rosneft, a global LNG trader and the world’s largest listed oil and gas producer.

The LNG terminal, expected to be completed in 18 months, will be sub-Saharan Africa’s first re-gasification terminal, strengthening Ghana’s position as a regional trade and energy hub.

The project, projected to generate some 1,600 jobs, will provide an estimated two million tonnes of LNG yearly and supply about 30 per cent of Ghana’s total electricity generating capacity, displacing crude oil and crude derivatives as fuel sources for the generation of power.

In addition, a concession agreement signed between the Ghana Ports and Harbours Authority (GPHA) and Tema LNG Terminal Company Ltd, will allow for the siting and operation of the facility within Tema Port, and will deliver an annual revenue in excess of 6.0 million US dollars to GPHA throughout the concession period.

Witnessing the signing of the agreement here Sunday, as part of his official visit to China, was President Nana Addo Dankwa Akufo-Addo, who said the Tema LNG Terminal Project is testament to the efforts his government has put in place over the last 19 months to encourage private sector participation in the growth of the economy.

Source: NAM NEWS NETWORK

GHANAIAN, CHINESE COMPANIES SIGN DEAL FOR LNG TERMINAL

BEIJING– Ghana’s Tema LNG Terminal Company Limited has signed an agreement with China Harbour Engineering Company for the construction of a liquified natural gas (LNG) terminal to be sited in Tema, some 20 kilomeres from the capital, Accra.

The terminal is being constructed as part of a 12-year gas supply agreement executed between the Ghana National Petroleum Corporation (GNPC) and Russia’s Rosneft, a global LNG trader and the world’s largest listed oil and gas producer.

The LNG terminal, expected to be completed in 18 months, will be sub-Saharan Africa’s first re-gasification terminal, strengthening Ghana’s position as a regional trade and energy hub.

The project, projected to generate some 1,600 jobs, will provide an estimated two million tonnes of LNG yearly and supply about 30 per cent of Ghana’s total electricity generating capacity, displacing crude oil and crude derivatives as fuel sources for the generation of power.

In addition, a concession agreement signed between the Ghana Ports and Harbours Authority (GPHA) and Tema LNG Terminal Company Ltd, will allow for the siting and operation of the facility within Tema Port, and will deliver an annual revenue in excess of 6.0 million US dollars to GPHA throughout the concession period.

Witnessing the signing of the agreement here Sunday, as part of his official visit to China, was President Nana Addo Dankwa Akufo-Addo, who said the Tema LNG Terminal Project is testament to the efforts his government has put in place over the last 19 months to encourage private sector participation in the growth of the economy.

Source: NAM NEWS NETWORK