info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
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The Tema LNG Terminal Company Limited on Sunday signed an agreement with the China Harbour Engineering Company for the construction of the Tema LNG terminal.
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, a global LNG trader and the world’s largest listed oil producer.
The LNG Terminal, expected to be completed in 18 months, would be Sub-Saharan Africa’s first regasification terminal, strengthening Ghana’s position as a regional trade and energy hub.
The project, projected to generate some 1,600 jobs, would provide an estimated two million tonnes of liquefied natural gas every year and would supply about 30 percent 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, to allow for the siting and operation of the facility within the Tema port, would deliver an annual revenue in excess of $6 million to GPHA throughout the total concession period.
Witnessing the signing of the agreement, in Beijing, China, as part of his official visit to that country, President Akufo-Addo indicated that 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.
The construction of the terminal was in line with the commitment of his government to providing Ghana with constant, reliable and affordable power supply.
