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The official, who made the announcement dur- kick-start, with the Emerging Africa Infrastruc-
ing the 2020 International Convention on Indo- ture Fund (EAIF) agreeing to provide a $31mn
nesian Upstream Oil & Gas (IOG 2020), said the loan with a term of 10years for a regasification
Abadi project was key to helping the government scheme in the port of Tema.
reach its 2030 target of producing 12bn cubic feet The loan will go to the project’s developer
(339.84mn cubic metres) per day of gas in 2030. Access LNG, a joint venture between Helios
Inpex, meanwhile, said the following day that Investment Partners and Gasfin Development.
discussions with the gas infrastructure operator The pair reached financial close on the scheme
regarding a sales and purchase agreement (SPA) on November 16.
would now begin. The Masela block, located in According to Gasfin, the terminal will deliver
the south-eastern Arafura sea, is the foundation 250mn cubic feet per day (2.58bn cubic metres
for a planned 9.5mn tonne per year liquefied nat- per year) of gas. This gas will be used as fuel
ural gas (LNG) terminal as well as another 1mn at thermal power plants (TPPs), providing a
tpy of local gas supply and up to 35,000 barrels cleaner and less costly option than crude oil and
per day (bpd) of condensate production. Masela heavy fuel oil.
is estimated to hold 10.7 trillion cubic feet Helios partner Ogbemi Ofuya suggested
(303.02bn cubic metres) of proven gas reserves. Access LNG could provide additional LNG
Inpex Masela, in which Inpex owns a 51.93% projects in sub-Saharan Africa. The current
interest, operates the block with a 65% stake. low price of gas, he said, means “there is a great
Royal Dutch Shell owns the remaining 35%, but opportunity for Access to support markets
is reportedly interested in selling its share. switching to natural gas as a clean, cheap transi- Uniper will blend
In July, SKK Migas confirmed reports that tion fuel as we push developments to support a
Shell intended to divest its 35% stake in the greener, more efficient energy economy.” its VLSFO with
Masela Block, noting that low oil prices and coro- In other news, Germany’s Uniper revealed
navirus COVID-19 related development delays last week that it had teamed up with UAE-based Neutral Fuels’
had prompted the exit plans. The super-major Neutral Fuels to provide maritime biofuels in
was reported in late June as being interested in Fujairah, a major hub for bunkering in the Gulf biofuels for sale
selling its stake for $2bn, with Inpex’s interest region. to maritime
only extending as far as a $400mn investment. The pair will blend very low sulphur fuel oil
The government last year approved the con- (VLSFO) supplied by Uniper’s marine fuel unit customers in
sortium’s revised plan for the project, which Uniper Energy DMCC (UED) with Neutral
scaled up the terminal’s capacity from 2.5mn tpy Fuels’ biofuel. This will create a fuel that com- Fujairah
to 9.5mn tpy. The size of the project (and its price plies with International Maritime Organisation
tag) were ramped up after the government said (IMO) standards.
the proposed floating LNG (FLNG) design must The announcement comes as the IMO looks
be sidelined in favour of an onshore terminal. to strengthen requirements for vessel energy
efficiency and impose tougher carbon intensity
If you’d like to read more about the key events shaping reduction requirements. These new rules will
Asia’s oil and gas sector then please click here for likely spur more shipowners to seek out biofuels.
NewsBase’s AsianOil Monitor.
If you’d like to read more about the key events shaping
DMEA: South African refinery blast the downstream sector of Africa and the Middle East,
Ghana’s plans to import LNG have received a then please click here for NewsBase’s DMEA Monitor.

Week 49 09•December•2020 www. NEWSBASE .com P9