Ghana National Petroleum Corp. partners with Quantum Power on Tema project

Ghana National Petroleum Corp. (GNPC) recently partnered with pan-African energy investment firm Quantum Power on the storage, re-gasification and delivery of liquefied natural gas (LNG) on the Tema project in Tema, Ghana.

Spanning 20 years, the project will cost more than $550 million to get started. It is estimated the project will produce 3.4 million tons of LNG annually. Sub-sea and onshore pipelines will deliver the gas to both GNPC and its customers; the terminal is 12 kilometers offshore from Tema.

The project is expected to be up and running by the end of the year.

“We are pleased to announce our agreement with Quantum Power," Alexander Mould, GNPC CEO, said. "As the national gas sector aggregator, GNPC is leading Ghana’s efforts to develop the gas-to-power value chain supporting the Government’s vision of energy security for accelerated economic growth. The Tema LNG Project is a critical component in achieving this vision as it allows for the diversification of fuel supply sources, enhancing flexibility and reliability. It guarantees GNPC contracted capacity of 250 million standard cubic feet of gas per day, for regasification of competitively priced LNG.”

Quantum CEO Matty Vengerik agreed.

“We are delighted to Partner GNPC to deploy this cost-efficient and clean fuel supply infrastructure solution to Ghana," Vengerik said. "This is the first such project to be implemented in sub-Saharan Africa. The combination of increased certainty-of-supply with the cost savings inherent in LNG supply has a significant multiplier effect on the economy at large, as it reduces risk for commercial and industrial activities and increases Ghana’s attractiveness as an investment destination."