The project is a Public Private Partnership (PPP) between Quantum Power and the Ghana National Petroleum Corporation (GNPC) with support from the Government.  The Tema LNG Import Terminal, when completed would provide the various power plants especially those located in Tema, with highly reliable and efficient supply of gas for the production of electricity.

It is also expected to produce about 3.4 million tonnes of LNG annually.

Dr Ruben Atekpe, Managing Director of Quantum Power Ghana, explained that the 500 to 600 million Dollars project, would see the anchoring of the floating storage and regasification LNG ship from South Korea 12 kilometres off the shores of Tema.

The ship has the capacity to import, store, regasify and deliver, at a state up to 3.4 million tons of LNG per year, equivalent to 500 million standard cubic feet of gas per day. Dr Atekpe said the 10 -storey high and five- storey wide vessel would be anchored with five to eight kilometres long anchor chains to provide the needed gas for 20 years.

He added that gas pipe lines would then be connected to the terminal for subsequent discharge to the power plants, which were built to operate on gas for reliable supply of energy.

He indicated that due to the unavailability of reliable gas, the power plants were forced to use other fuels leading to frequent breakdowns of the plants and high cost of energy production adding that gas was the cheapest way to provide power.

Mr Matty Vengerik, Chief Executive Officer of Quantum Power, said the terminal had been designed to help alleviate Ghana’s significant energy shortfall and support government’s efforts to put an end to the protracted challenges with energy reliability, efficiency and cost.

Mr Vengerik added that the Tema LNG would provide Ghana with a highly reliable, flexible, independent and scalable fuel source, which would afford significant reductions in power generation costs, with a large multiplier effect on the broader economy.