HANEp) together with its lead partners, Development Equity Associates Inc. (DEA) and International Maritime Associates Inc. (IMA); seek to provide a two phase solution to Ghana’s power production feed stock challenges by supplying power producers with LNG. The initial phase, which is the immediate or short term solution, shall involve structuring a short term FSRU project. This project will be designed to obtain natural gas for Ghana’s power plants as quickly as possible, within 9 to 15 months.
Rather than attempt to immediately address all of Ghana’s projected needs for natural gas, this project will provide a reasonable supply of natural gas, in the short term, as feedstock for the power plants in order to reduce load shedding and brownouts. The ship to shore infrastructure facilities would be provisional and quickly set up and would be designed to be easily replaced with more permanent facilities.
We are looking to leverage on this initial arrangement to embark on a long term project with time to delivery between 18 to 48months. Despite the quasi-fiscal deficit situation in Ghana which will increase the difficulty of obtaining lease financing without substantial credit guarantees, we can negotiate an arrangement where short term FSRU lease can be linked to longer term deals. Our strength is in our ability to structure the transaction to accommodate the needs and the timetables of the various parties viz, the power producers, the Purveyors, the lenders, the donor agencies and future equity investors.