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Innlegg av: uteseileren (05.10.17 21:28 ), lest 5705 ganger
Ticker: IMSK

IMSK - Ghana 1000 gas-to-power project could be axed

Tøm å røm…. Dette skrev tradewinds i Mai

Fears grow for Skaugen's deal on Ghana ships
May 17th, 2017 17:45 GMT

by Trond Lillestolen
Published in GAS
Concerns are growing that IM Skaugen’s (IMS) $420m deal to employ three of its small multigas carriers in Ghana could be in doubt.

Insiders in the country say the talk is that the Endeavor Energy-led project to supply LNG to the Ghana 1000 power project at Aboadze is not progressing, with brokers in Europe suggesting the deal is “dead”.
Oslo-listed gas-carrier owner IMS signed a deal covering the 10-year charter for two of the company’s 10,000-cbm multigas carriers and one 12,000-cbm vessel. One of the ships was to be used as a floating storage and offloading unit with the others shuttling-in cargoes.

The company announced the agreement in January without naming the counterparty saying the contract is subject to government approvals and financial conditions.
IMS managing director Morits Skaugen declines to offer any comments on the matter and referred TradeWinds to the company’s chief financial officer, who did not respond.
The Norwegian owner, which is scheduled to announce its first-quarter results on 31 May, has been battling mounting debts. This month it announced that secured lenders had agreed in principle to an extension on loans until 6 April 2018.

The Ghana deal offered a boost for IMS but also sparked confusion in the LNG sector, where there are already two other LNG import projects planned for the West African nation.
Golar LNG floating storage and regasification unit (FSRU) Golar Tundra (built 2015) arrived off the country’s coastal city of Tema in June 2016 to act as the import terminal for charterer West Africa Gas Limited (WAGL).
But the FSRU has sat idle since, as no infrastructure has been built and WAGL has not taken full delivery of the unit. Golar said in February that it continues to weigh legal options in regard to collecting charter fees and is looking to trade the vessel in the short-term market.

In a third project for Ghana, Hoegh LNG has signed up to charter its eighth FSRU, the Hoegh Giant, to Quantum Power, for its import project with the Ghana National Petroleum Co.

The FSRU is due for delivery this month, but the project has a scheduled start-up of mid-2018 and Hoegh has said it plans to trade the ship on a short-term basis over the winter.
Hoegh has said it expects all agreements, including the time-charter party for the FSRU, to be in place by the year-end.

Her er en artikkel som sier det blir ikke noe av hele prosjektet

Ghana 1000 gas-to-power project could be axed
Ghana’s flagship gas-to-power project may not receive approval as the country’s previous government signed too many power-purchase agreements