Page 9 - DMEA Week 46 2022

DMEA REFINING & FUELS DMEA

They have also urged a complete renegotiation per year (tpy) and a floating storage unit (FSU)
of the financial and commercial terms of the that can hold up to 160,000 cubic metres of gas.
scheme to better reflect the current conditions The facility is already slated to receive LNG from
in global and local energy markets, as well as Nigeria under a 17-year supply agreement with
updates to the governance model of the project, a unit of Shell (UK), and it will deliver the gas
among other changes. to GNPC under a long-term off-take contract.
Additionally, they have raised serious GNPC, which serves as the country’s gas
doubts about the feasibility of the project on the aggregator, will mostly make the fuel availa-
grounds that Ghana had not developed renew- ble for use gas in domestic power generation,
able energy resources, even though they were according to Ben Asante, the CEO of the state-
quickly becoming a more economical form of owned gas utility, Ghana National Gas Co.
energy. (GNGC). However, gas will also go to other
“Development finance institutions have industries, such as petrochemicals and cement,
spent at least $2.8bn in direct project finance Asante told Bloomberg. ™
to support the development of upstream and
downstream fossil fuel projects in Ghana since
2010. Meanwhile, Ghana’s vast renewable
energy potential has generally been overlooked,”
the statement said. “Ghana’s modern renewa-
ble generation capacity remains negligible, at
less than 1% in 2020. This is despite renewable
energy sources, such as solar, now being the
cheapest form of energy in many parts of Africa,
according to the International Energy Agency
(IEA) – and are set to outcompete all other
sources continent wide by 2030.”
According to previous reports, the Tema
LNG terminal consists of a floating regasifica-
tion unit (FRU) with a capacity of 1.7mn tonnes Rendering of Tema LNG terminal (Image: Helios Investment Partners)

Nigeria’s UTM Offshore set to sign

FEED contract for FLNG project

AFRICA JULIUS Rone, the CEO and managing director LNG (FLNG) project.
of Nigeria’s UTM Offshore, revealed on Novem- Rone told LNG Prime that UTM Offshore
ber 15 that his company was preparing to sign was scheduled to finalise the FEED contract
a front-end engineering and design (FEED) with several companies in London on Novem-
services contract for the country’s first floating ber 16.

JGC has agreed to build the FLNG that will process associated gas from the Yoho field (Image: JGC)

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