Page 4 - GLNG Week 30 2022
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GLNG AFRICA GLNG
Genser Energy secures $425mn for gas
midstream projects in Ghana
PROJECTS GENSER Energy has announced the successful signed an offtake agreement with Trafigura for
financial close for an eight -year $425mn fund- 100% of NGLs, primarily propane, butane and
ing package towards refinance existing debt and ethane, as well as Liquified Natural Gas (LNG)
financing the next phase of expansion projects to be produced from the gas conditioning plant
in Ghana. in Prestea.
Projects in the works include a 100km nat- In addition, Trafigura participated in Genser’s
ural gas pipeline to Ghana’s second largest city, mezzanine loan facility and provided additional
Kumasi, and a 200mmscfd gas conditioning funding to build increased storage capacity at the
plant at Prestea, Ghana, and a Natural Gas Liq- proposed Takoradi NGL Terminal.
uid (NGL) storage terminal at Takoradi Port as a The senior loan facility was financed by a
major step in Genser’s decarbonization strategy consortium of regional and commercial interna-
to achieve net zero carbon by 2035. tional banks, development financial institutions,
Genser said the availability of cheaper and and funds comprised of Standard Bank of South
readily accessible piped natural gas in Kumasi Africa, Absa Bank, Société Générale, Mauritius
and the central belt of Ghana via the new pipe- Commercial Bank, Ninety One, Barak Fund SPC
line will encourage industries to switch from Limited and the Development Bank of Southern
imported trucked diesel and heavy fuel oil Africa.
(HFO) to indigenous natural gas as a low-carbon The mezzanine loan facility is provided by
intensive fuel. Trafigura, Barak Fund SPC Limited and the US
The pipeline will also support relocation of Based Fund, Trilinc Global Sustainable Income
power plants from coastal regions to reduce line Fund Master Ltd.
losses and improve efficiency on the national Apart from its Ghana operations, Genser also
grid, it said. Moreover, the gas conditioning plant have early stage projects in Burkina Faso, Mali
will produce cleaner fuels and establish Ghana and Guinea. The company builds, owns and
as a significant producer and exporter of Natural operates distributed generation installations
Gas Liquids (NGLs). and natural gas distribution infrastructure, sell-
Concurrent with the fundraising, comprised ing power and natural gas to mines, industries
of a syndicated senior loan facility of $325mn and utilities.
and a $100mn mezzanine loan facility, Genser
P4 www. NEWSBASE .com Week 30 29•July•2022
