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King & Spalding advises on landmark Ghana LNG project
King & Spalding's London office is advising the Ghana National Petroleum Corporation (GNPC), Ghana's national oil company, on its US$550 million pathfinder liquefied natural gas (LNG) project, the first such project to be implemented in the region.
Romolo Tavani
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GNPC and Quantum Power, the pan-African energy infrastructure investment platform signed heads of terms for the construction and operation of the LNG storage, regasification and delivery facilities at Tema, Ghana earlier this month. The project, comprising a capital outlay of over US$550 million, will be implemented on a build-own-operate-transfer basis with the assets transferring to GNPC after the project’s 20-year term. It is the first of its kind in sub-Saharan Africa.
State-of-the-art facility
The facility will have the scalable ultimate capacity to receive, store, regasify and deliver, at steady state, of about 3.40 million tons of LNG per year, equivalent to 500 million standard cubic feet of gas per day utilising a state-of-the-art dedicated floating storage and regasification unit moored off-shore Tema. The King & Spalding team is led by London office managing partner Garry Pegg. Other members of the team include partner Hywel Jones, senior associate Susanna Beard and associate Kelly Nash.
