Vitol Confirms $2.5 Billion Investment in West Africa LNG Terminal

FOR IMMEDIATE RELEASE — Vitol Energy has confirmed its commitment to a $2.5 billion liquefied natural gas receiving terminal to be constructed on the Atlantic coast of Ghana, one of the largest private energy infrastructure investments in West African history.\n\nThe facility, designated the West Africa LNG Hub (WALH), will have initial receiving capacity of 4 million tonnes per annum, expandable to 8 million tonnes, and will serve as the primary LNG distribution point for Ghana, Ivory Coast, Senegal, and potentially Nigeria as existing pipeline infrastructure is upgraded to handle LNG-derived gas.\n\nVitol CEO Russell Hardy stated: "Africa's energy transition does not look like Europe's. The continent has hundreds of millions of people with no reliable electricity access, and the fastest path to improving living standards runs through reliable baseload power generation. LNG provides that path in a way that intermittent renewables currently cannot.\n\n"We are making this investment because we believe in Africa's economic future and because we see a long-duration demand for LNG in the region that justifies the infrastructure investment. The facility will handle LNG for at least 25 years.\n\nThe construction contract has been awarded to McDermott International, with an anticipated completion date of late 2027. During construction, the project will employ approximately 2,400 people, with an operational workforce of around 280 permanent employees supplemented by maintenance contractors.\n\nGhana's Ministry of Energy welcomed the announcement, noting that the terminal would significantly improve the country's energy security and reduce its dependence on crude-oil-based power generation that has historically been subject to price volatility and supply disruptions.\n\nFinancial close on the project financing is expected by end of Q2, with commercial debt provided by a syndicate of eight international development finance institutions and commercial banks.