Emerging Africa Infrastructure Fund (EAIF) has awarded a US$31m loan with a 10-year term to Access LNG, a consortium between Africa-focused private investment firm Helios Investment Partners and LNG infrastructure player Gasfin Development, for the 2 Mt/year (2.7 bcm/year) Tema LNG import project in Ghana. The project reached financial close earlier in November 2020 and commissioning is scheduled by the end of 2020.
The Tema terminal, whose construction started in 2018, includes a floating regasification barge (FRU), floating storage unit and a pipeline, which will be connected to the domestic grid. The floating facility will be provided by the Höegh LNG by the end of 2020 through a 20-year agreement with Quantum Power Ghana Gas. The project is supported by a 12-year gas supply agreement signed in May 2018 between Ghana National Petroleum Corporation (GNPC) and Rosneft; Rosneft will supply 1.7 Mt/year of LNG to GNPC. The terminal will then be transferred to GNPC and the Ghana Ports and Harbours Authority (GPHA) after the 12-year initial period.