A Wholly owned Ghanaian company, Quantum Power Ghana Gas (QPRGG), will from 2016 provide liquefied natural gas (LNG) to the power producing companies operating at Tema.
The company is currently developing the integrated infrastructure needed to import LNG, store, re-gasify and deliver it to large-scale industrial gas users in the country.
A statement issued by the Chief Executive Officer of QPRGG, Mr Don Ackah, said an agreement to that effect had been signed between QPRGG and Golar, a UK-based LNG shipping company.
Ghana’s economy
The statement quoted Mr Ackah as saying that “ for Ghana’s economy to grow, the country needed more electricity which our facilities can help fuel at lower cost and with lower emission”.
“The Tema LNG project will have the initial ability to receive, store, re-gasify and deliver 1.75 million tonnes of LNG per year” it said.
Asked how the Quantum Power project affects Ghana’s ambitions to produce its own gas, he observed that “Part of the elegance of the FSRU solution is that, we are viable both as a medium-term bridge to indigenous gas production or as a long-term solution.”
Quantum Power
A representative of Quantum Power Limited, parent company of QPRGG, Mr Matty Vengerik, said, “we are delighted to have Golar joining us in this innovative project and we are very excited to partake in alleviating an important burden on Ghana’s economic growth”.
According to him, conservative estimates were that Quantum Power Project could save power producers more than a quarter of a billion dollars annually in fuel cost, with a multiplier effect on the economy at large.