Guyana Government Clarifies Gas Project Developments

Government Denies Entering Agreement with Fulcrum LNG

GEORGETOWN, Guyana, CMC—The Guyana government has not entered into an agreement with Fulcrum LNG to develop its untapped gas resources offshore, according to Vice President Bharrat Jagdeo.

Discussions Initiated with Fulcrum LNG

Vice President Jagdeo told reporters that the government has only initiated discussions with the United States-based company to examine the viability of developing the gas project, contrary to public reports.

Exploring Options for Gas Project

“There is no project at this point…There is an exploration of how we can move to a project to monetize the gas by looking at several options on the demand and cost sides,” Jagdeo said.

“And then we believe that if you do get to a project stage, not all of this should come to cost oil…some of it can be privately financed so that you have greater benefits flowing to Guyana,” he added.

Technical Deliberations Underway

According to Jagdeo, these technical deliberations and examinations will ensure the country can undertake this massive gas project.

Request for Proposals Process

Following an extensive Request for Proposals (RFP) process, Fulcrum LNG was identified as the company that would work alongside the government in finding the best way to develop Guyana’s untapped resources. The US company was selected from among 17 proposals submitted.

Company’s Submissions Comprehensive

The Ministry of Natural Resources said the company’s submissions were detailed and comprehensive, which justified its number-one ranking.

Government’s Desire to Develop Gas Resources

The government has expressed the desire to develop the natural gas resources in the Stabroek Block.

Gas-to-Shore Energy Project Underway

A multi-billion gas-to-shore energy project is already moving apace in Wales Region Three, promising a significant reduction in energy costs upon completion.

Conclusion

In summary, the Guyana government has clarified that it has not entered into an agreement with Fulcrum LNG to develop its untapped gas resources offshore. The government has initiated discussions with the company to examine the viability of the gas project, and technical deliberations are underway to ensure the country can undertake this massive project.

FAQs

Q: Has the Guyana government entered into an agreement with Fulcrum LNG?
A: No, the government has not entered into an agreement with Fulcrum LNG.

Q: What is the purpose of the discussions with Fulcrum LNG?
A: The purpose of the discussions is to examine the viability of developing the gas project.

Q: What are the technical deliberations being conducted?
A: The technical deliberations are being conducted to ensure the country can undertake this massive gas project.

Q: What is the government’s desire regarding the development of gas resources?
A: The government has expressed the desire to develop the natural gas resources in the Stabroek Block.