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Ghana to import liquefied natural gas from international market by 2013 aside Nigeria

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Ghana is said to be eyeing liquefied natural gas (LNG) imports from the international market by 2013 after launching a feasibility study into a floating storage and re-gasification unit (FSRU).

The LNG Unlimited, a subscribed weekly electronic news publication which offers exclusive insights right across the liquefied natural gas supply chain, reports that Ghana’s Energy Commission has invited bids from companies interested in the viability of installing an FSRU off the country’s coast and its accompanying mooring and pipelines.

According to the report on August 26, 2011, the exercise is being funded by the US Trade and Development Agency (USTDA) with an amount of a $691,000 grant.

In an email response to ghanabusinessnews.com enquiries Wednesday August 31, 2011, the USTDA confirmed the development saying, “This project will significantly reduce, if not eliminate, the fuel shortages and supply disruptions which are plaguing the Ghanaian energy sector. This project will enable Ghana to import liquefied natural gas from the international market, maintain a buffer supply, and regasify the fuel at a significant cost savings over liquid fuels.”

The LNG Unlimited cited an unnamed spokesperson at state-owned Bulk Oil Storage and Transmission (BOST) Company, who are overseeing the project on behalf of government saying Ghana is pursuing “a very aggressive” timetable for the FRSU and ideally would like to see LNG imports by 2013 as gas from Nigeria expected to suffer a growing shortfall by 2020.

The improved availability of gas will also reduce harmful emissions as power plants replace heavy fuel oil with more environmentally friendly gas, the statement added.

The project is expected to result in significant business opportunities for U.S. firms.

By Ekow Quandzie

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One comment

  1. 2012 elections will be a deciding factor, why we still importing everything whiles Ghana shores are full of these minerals. Why this nation keep comparing itself with other countries about what they do based on their current needs.