FSU heads to Ghana as Tema LNG project nears start

MADRID (ICIS)–The floating storage unit (FSU) of Ghana’s Tema LNG project is set to arrive in the west African country at the end of May, ahead of the potential start-up in June.

But the vessel that will serve as the FSU will not be the 125,000 cubic metre (cbm) Torman II, previously called the LNG Flora, that was expected earlier, but rather the 180,000cbm Vasant.

The Tema LNG project owner has sub-chartered the Vasant until the first half of 2022, ship brokers told ICIS last week.

The vessel has been broadcasting Tema as its destination since 24 April, with an estimated arrival on 28 May, according to LNG Edge.

The charter rate for the vessel was reported in the low-$20,000/day, significantly below current market levels, especially given it is a new-build vessel.

ICIS understands the lower rate is linked to the vessel’s speed limitation of 12 knots, making it less attractive on the standard market.

Vasant’s larger size compared to the Torman II was likely a decisive factor behind the project owner, Tema LNG Terminal Company’s decision.

The project’s floating regasification unit arrived at Tema port on 7 January and once the FSU is also in place, and the two units are linked up, LNG imports can begin.

SENEGAL PROGRESS

Another west African nation, Senegal could also start LNG imports soon as the Karmol LNGT Powership Africa floating storage regasification unit (FSRU) is on its way to Dakar and is expected to arrive at the port of the Senegalese capital on 24 May.

The FSRU will allow the 235MW Karadeniz Powership Aysegul Sultan to switch from running on low-sulphur fuel oil to LNG and provide LNG-powered electricity generation for Senegal.