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Monday, June 2, 2014
Gasol’s subsidiary, Gasol LNG Import, signed a conditional long term GSA with the major power generation company in Ghana, the Volta River Authority. The daily contract quantity under the Agreement is 100 Mmscf/d.
The GSA with the Volta River Authority follows on from the signature of the JV agreement announced earlier this year between Gasol’s affiliate African Power Generation Ltd. (afgen) and GNGC, Ghana’s state-run gas company. Under the terms of the JV agreement, Afgen and GNGC agreed to cooperate on the marketing of regasified LNG from Bénin and the development of an LNG solution for Ghana.
Gasol has already concluded a GSA with the Communauté Electrique du Bénin, the electricity authority for Bénin and Togo, with a daily contract quantity of 60 Mmscf/d.
The latest GSA means that Gasol LNG Import now has sufficient gas offtake agreements in place to progress with the development of its proposed LNG Import and Regasification Facilities to be located at the harbor in Cotonou, Bénin.
Alan Buxton, COO of Gasol said: “Ghana is a major market for gas supply and we are absolutely delighted to have executed an agreement with the Volta River Authority for the supply of 100mmscfd. When the Benin project is operational the supply of natural gas to the Volta River Authority’s power plants will displace the use of more expensive and environmentally unfriendly imported light crude oil.”
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