Page 6 - AfrOil Week 31 2022

AfrOil PIPELINES & TRANSPORT AfrOil

Genser Energy secures $425mn for

gas midstream projects in Ghana

GHANA GENSER Energy has announced the successful storage capacity at the proposed Takoradi NGL
financial close for an eight-year $425mn fund- Terminal.
ing package towards refinance existing debt and The senior loan facility was financed by a
financing the next phase of expansion projects consortium of regional and commercial interna-
in Ghana. tional banks, development financial institutions,
Projects in the works include a 100-km nat- and funds comprised of Standard Bank of South
ural gas pipeline to Ghana’s second largest city, Africa, Absa Bank, Société Générale, Mauritius
Kumasi, and a 200mn cubic feet (5.7mn cubic Commercial Bank, Ninety One, Barak Fund
metres) per day gas-processing plant at Prestea, SPC Ltd and the Development Bank of South-
Ghana, and a natural gas liquid (NGL) storage ern Africa.
terminal at Takoradi port as a major step in The mezzanine loan facility is provided
Genser’s decarbonisation strategy to achieve net by Trafigura, Barak Fund SPC Ltd and the US
zero carbon by 2035. Based Fund, Trilinc Global Sustainable Income
Genser said the availability of cheaper and Fund Master Ltd.
readily accessible piped natural gas in Kumasi Apart from its Ghana operations, Genser
and the central belt of Ghana via the new pipe- also has early-stage projects in Burkina Faso,
line will encourage industries to switch from Mali and Guinea. The company builds, owns
imported trucked diesel and residual fuel oil and operates distributed generation installations
(RFO) to indigenous natural gas as a low-car- and natural gas distribution infrastructure, sell-
bon intensive fuel. ing power and natural gas to mines, industries
The pipeline will also support relocation of and utilities. ™
power plants from coastal regions to reduce line
losses and improve efficiency on the national
grid, it said. Moreover, the gas conditioning
plant will produce cleaner fuels and establish
Ghana as a significant producer and exporter
of NGLs.
Concurrent with the fundraising, comprised
of a syndicated senior loan facility of $325mn
and a $100mn mezzanine loan facility, Genser
signed an offtake agreement with Trafigura for
100% of NGLs, primarily propane, butane and
ethane, as well as LNG to be produced from the
gas processing plant in Prestea.
In addition, Trafigura participated in
Genser’s mezzanine loan facility and pro-
vided additional funding to build increased Fuel and energy infrastructure in Ghana (Image: Genser Energy)

Algeria, Niger and Nigeria agree to

build gas pipeline targeting Europe

ALGERIA/NIGER/NIGERIA ALGERIA, Niger and Nigeria have agreed to The new pipeline will be able to transport 1
build a €12.75bn Trans-Saharan Gas Pipeline trillion cubic feet (28.3bn cubic metres) per year
that stretches across the Sahara Desert for 4,128 of natural gas from Nigeria north through Niger
km, according to a statement by Algeria’s energy to Algeria. The final stage will pump the gas to
ministry on Thursday, July 28. The deal was Europe through the undersea Trans-Mediter-
signed in Algiers, in the presence of the energy ranean Pipeline (TransMed) or through being
ministers of the three African countries. loaded onto LNG tankers for export.

P6 www. NEWSBASE .com Week 30 28•July•2022