Sub-Saharan Africa: LNG imports stay elusive as high price environment persists

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At the start of the year, Spanish LNG terminal operator Reganosa announced that it had been awarded a contract to operate and maintain the 1.7 mtpa Tema LNG terminal in Ghana. It was another step on the West African country’s path to finally import LNG, a wish it has had for a long time. But while the infrastructure to do so is now in place at Tema, the project has not yet received a cargo, with sources attributing this to the high LNG price environment of recent months.

Despite being home to major LNG exporters like Nigeria, no country in sub-Saharan African currently imports LNG. There are several projects under development, five of which involve a floating storage and regasification unit (FSRU) and floating power plant, or powership. While access to LNG could help sub-Saharan African countries address their power shortages and add another outlet to suppliers, there are concerns that persistently high LNG prices could kill the region’s appetite for it.

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