Africa’s first floating regasification unit (FRU) which is set to arrive in Ghana will secure Africa’s energy future. According to industry experts, the estimated $350m development will be part of the process in securing Africa’s energy future in the wake of the COVID-19 pandemic.
The International Energy Agency (IEA) noted that in sub-Saharan Africa, the pandemic had put almost seven years of progress into reverse, with the number of citizens lacking electricity rising to more than 590 million this year; an increase of 13 million people. At the same time, the IEA pointed out, Africa’s energy demands up to 2040 were set to grow twice as fast as the global average to support the continent’s economic transformation. “This rapid increase in demand will present new challenges: raising adequate investment; managing growing import dependence; and mitigating the environmental impact of energy production and use,” the IEA said.
Ogbemi Ofuya of Helios Investment Partners said: “The Tema LNG terminal project supports Ghana’s ambitions to continue on its trajectory as one of the fastest growing economies in Africa, by delivering the energy infrastructure to support accelerated industrialization. As evidenced in similar fast-growing economies in Asia and Latin America, the introduction of LNG into the energy mix serves as a catalyst for industrial and economic growth.
“The year-round, guaranteed supply of LNG and piped gas through the Tema LNG terminal facilitates forward planning and investments in receiving infrastructure by power plants, mines and industries across the West Africa region who are currently reliant on more expensive liquid fuels,” he added.
An added advantage, the companies involved said, was that the switch to gas would deliver a “significant environmental benefit and supports the transition to cleaner burning fuels in the region by reducing CO2 emissions and eliminating sulphur emissions, in line with the Paris Climate Accord objectives”.
The FRU will be located within the Tema Port, where TLTC has built additional marine infrastructure that will allow for cost-efficient LNG loading and regasification without affecting maritime and port traffic in the Gulf of Guinea.
Source: Ghana News Agency