• Submit article
  • Advertise
  • My LiStingGh
    • Your News
Saturday, May 21, 2022
27 °c
Labadi
28 ° Mon
28 ° Tue
28 ° Wed
28 ° Thu
  • Login
  • Register
The New Crusading Guide Online
  • Home
  • Politics
  • News
  • Africa
  • World
  • Business
  • Lifestyle
  • Tech
  • Entertainment
  • Your News
  • More News
No Result
View All Result
  • Home
  • Politics
  • News
  • Africa
  • World
  • Business
  • Lifestyle
  • Tech
  • Entertainment
  • Your News
  • More News
No Result
View All Result
The New Crusading Guide Online
No Result
View All Result
Home News

Agreement For Construction Of Tema Lng Terminal Project Signed

News Desk by News Desk
September 7, 2018
in News, Politics
Reading Time: 2 mins read
1.6k 16
A A
0
Agreement For Construction Of Tema Lng Terminal Project Signed
1.2k
SHARES
1.8k
VIEWS
Share on FacebookShare on Twitter

Tema LNG Terminal Company Ltd., an entity controlled by Helios Investments, the world’s largest Africa-focused private equity fund, on Sunday, 2nd September, 2018, signed an agreement with China Harbour Engineering Company, for the construction of a Liquefied Natural Gas (LNG) Terminal to be sited in Tema.

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. Rosneft subsequently engaged Tema LNG Terminal Company for the provision of the regasification services.

The LNG Terminal, which will be completed in 18 months, will be Sub-Saharan Africa’s first regasification terminal, strengthening Ghana’s position as a regional trade and energy hub.

The project, which will generate some 1,600 jobs, is estimated to provide about two million tonnes of liquefied natural gas every year. This would mean that the facility would supply about 30% of Ghana’s total electricity generating capacity, displacing crude oil and crude derivatives as fuel sources for the generation of power.

Related posts

Tijaniya Supreme Leader Applauds Akufo Addo

Tijaniya Supreme Leader Applauds Akufo Addo

May 20, 2022
1.8k
Achimota Forest Reserve Not Sold

Gov’t Committed To Protecting Achimota Forest – Benito Owusu-Bio

May 20, 2022
1.8k

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, will 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 President noted that the construction of the terminal is in line with the commitment of his government to providing Ghana with constant, reliable and affordable power supply.

He stressed that “if we are going to succeed in pushing the industrial development of our country rapidly, the supply of gas, which will mean even more affordable rates of power, to our country is now a matter of very great importance for us.”

The Tema LNG Terminal Project is a private sector funded and driven project, led by established international sponsors, such as Rosneft, the world’s largest listed producer of crude oil, and Helios Investments, the world’s largest Africa-focused private equity fund. As such, there was no requirement for capital from Government.

The cost of the project is estimated in excess of some $350 million, of which $200m would be spent directly in Ghana over the next 18 months.

China Harbour Engineering Company, which is already involved in the current Tema port expansion project, is constructing the marine facilities, whilst Jiangnan Shipyard of China will be constructing the floating regasification facility.

The Terminal will be transferred to government (GNPC and GPHA) after 12 years.

Present at the signing ceremony were the Minister for Roads and Highways, Hon. Kwasi Amoako-Atta; Minister for Railways Development, Hon. Joe Ghartey; Minister for Agriculture, Hon. Owusu Afriyie Akoto; Minister for Information-designate, Hon. Kojo Oppong Nkrumah; and the Chief Executive Officer of the Ghana Investment Promotion Centre, Mr. Yofi Grant, amongst others.

Related

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Sinotruk International To Establish Assembly Plant In Ghana

Next Post

Number 12 Supplementary: Top African Football Officials Busted! …15 West, Central And Southern Countries Involved

News Desk

News Desk

Related Posts

Tijaniya Supreme Leader Applauds Akufo Addo
National

Tijaniya Supreme Leader Applauds Akufo Addo

May 20, 2022
1.8k
Achimota Forest Reserve Not Sold
More News

Gov’t Committed To Protecting Achimota Forest – Benito Owusu-Bio

May 20, 2022
1.8k
Agric Minister Courts Zimbabwe Ambassador  …To Strengthen Bilateral Relations
National

Agric Minister Courts Zimbabwe Ambassador …To Strengthen Bilateral Relations

May 20, 2022
1.8k
154 MMDAs Without Valid By-Laws -DenisLaw Reveals   
National

154 MMDAs Without Valid By-Laws -DenisLaw Reveals  

May 20, 2022
1.8k
INDONESIA RELAXES COVID-19 NOSE MASK WEARING AND FOREIGN TRAVELLER RESTRICTIONS
Health

INDONESIA RELAXES COVID-19 NOSE MASK WEARING AND FOREIGN TRAVELLER RESTRICTIONS

May 19, 2022
1.8k
Court Discharges Qnet Independent Representatives
National

Court Discharges Qnet Independent Representatives

May 19, 2022
1.8k
Next Post
SPORTS VISA FOR SALE  …Authority’s Cash Cow

Number 12 Supplementary: Top African Football Officials Busted! …15 West, Central And Southern Countries Involved

Allow Chief Imam To Continue Handling Hajj Operations  …Muslim Groups Urge Gov’t

Allow Chief Imam To Continue Handling Hajj Operations …Muslim Groups Urge Gov’t

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Tijaniya Supreme Leader Applauds Akufo Addo

Tijaniya Supreme Leader Applauds Akufo Addo

10 hours ago
1.8k
Achimota Forest Reserve Not Sold

Gov’t Committed To Protecting Achimota Forest – Benito Owusu-Bio

10 hours ago
1.8k
Agric Minister Courts Zimbabwe Ambassador  …To Strengthen Bilateral Relations

Agric Minister Courts Zimbabwe Ambassador …To Strengthen Bilateral Relations

10 hours ago
1.8k
154 MMDAs Without Valid By-Laws -DenisLaw Reveals   

154 MMDAs Without Valid By-Laws -DenisLaw Reveals  

10 hours ago
1.8k

BROWSE BY CATEGORIES

  • Africa
  • Apps & Software
  • Business
  • Corona
  • Crypto News
  • Culture
  • Entertainment
  • Food
  • Health
  • Lifestyle
  • Mobile
  • More News
  • myblog
  • National
  • News
  • Opinion
  • Politics
  • Reviews
  • Science
  • Social Media
  • Sports
  • Startup
  • Tech
  • Travel
  • uncategorized
  • US
  • World
  • Your News

BROWSE BY TOPICS

2018 League Africa airbus Amidu Anas apiate apiatse appiate Australia Balinese Culture Bali United bogoso Budget Travel Champions League China Chopper Bike coronavirus corruption Côte d’Ivoire Ebony EC Election Results entertainment Europe France Gaza Germany Ghana India Israel NDC News North Korea NPP People Reviews Russia South Africa South Korea Spain Tech UK world Woyome Zimbabwe
ADVERTISEMENT
The New Crusading Guide Online

The New Crusading Guide is a privately own newspaper in Ghana with Mr ABdul Malik Kweku Baako as its Editor in Chief. We give you the latest news

Follow us on social media:

Recent News

  • Tijaniya Supreme Leader Applauds Akufo Addo
  • Gov’t Committed To Protecting Achimota Forest – Benito Owusu-Bio
  • Agric Minister Courts Zimbabwe Ambassador …To Strengthen Bilateral Relations
  • 154 MMDAs Without Valid By-Laws -DenisLaw Reveals  
  • INDONESIA RELAXES COVID-19 NOSE MASK WEARING AND FOREIGN TRAVELLER RESTRICTIONS

Special Links

  • Submit article
  • Advertise
  • My LiStingGh
    • Your News

Quick Links

  • About
  • Advertise
  • Careers
  • Privacy & Policy
  • Contact
  • About
  • About
  • Advertise
  • Careers
  • Privacy & Policy
  • Contact
  • About

© 2022 The New Crusading Online - All rights Reserved. Powered by Uthink.

No Result
View All Result
  • Home
  • Politics
  • Science
  • News
  • World
  • Business
  • National
  • Sports
  • Entertainment
  • Lifestyle
  • Travel
  • Opinion
  • Tech

© 2022 The New Crusading Online - All rights Reserved. Powered by Uthink.

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

error: Content is protected !!
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
x Logo: Shield Security
This Site Is Protected By
Shield Security →