Golar, West African Gas sign Ghana FSRU contract

With the signing of an exclusive five-year contract, Golar LNG Limited has become the provider of Floating Storage and Regasification Unit (FSRU) services for West African Gas Limited (WAGL).

The services are necessary to support West African Gas' Liquefied Natural Gas (LNG) import operations in Ghana. At the end of the initial five years, WAGL has the option to extend the contract for an additional five years.

Together, the companies are working to develop an LNG import project located at the port of Tema on Ghana's West African coast. The project is expected to be fully operational by the second quarter of 2016.

The FSRU provided by Golar will be anchored inside the port as WAGL constructs a new jetty and will be delivered in November.

"Ghana represents an exciting new business opportunity for Golar," the company's CEO Gary Smith said. "West Africa is becoming an increasingly important region for our business, and we are proud to be jointly developing Sub-Saharan Africa's first FSRU in partnership with WAGL."

Umar Ajiya, manager director of WAGL, said the company was proud to be involved in the project as well.

"This landmark achievement is the first of its kind in sub-Saharan Africa and strategically positions Ghana to be an energy hub," Ajiya said. "By contracting with the best-in-class companies like Golar LNG, WAGL has set clear standards of the highest order and reaffirmed its belief in the sub region as a stable environment for doing business."