Guyana’s Gas-to-Shore Energy Development Project Progressing

Guyana Government Provides Update on Project

The Guyana government has allocated US$400 million towards its gas-to-shore energy development project, located in Wales on the West Bank Demerara (WBD). Vice President Bharrat Jagdeo confirmed that the project is progressing despite delays in securing a US$660 million loan.

Project Details

The project will result in a 200-kilometer pipeline bringing gas from the Liza Destiny and the Liza Unity Floating Production fields onshore. Upon arrival at the West Coast Demerara facility, the pipeline will continue for approximately 25 kilometers to the Natural Gas Liquid (NGL) plant to be constructed in Wales.

Expected Impact

Upon completion, the gas-to-energy project is expected to significantly impact the country’s economy, attracting sustainable investments across various sectors and creating numerous job opportunities. The government has already indicated that the energy cost is expected to decrease by 50 percent, resulting in more affordable and stable electricity for the people of Guyana.

Government Commitment

“The project will be done, even if it means funding it from our budget,” Jagdeo said. The government has partnered with ExxonMobil to develop the necessary infrastructure and facilities to transport and process the gas for power generation and other applications.

Latest Developments

Vice President Jagdeo and senior minister Dr Ashni Singh, responsible for Finance and Public Service, met with US EXIM Bank executives to advance the request for the remaining loan funds. The government has already paid approximately US$400 million, more than half of the project cost, and is expected to be reimbursed.

Conclusion

The Guyana government is committed to completing the gas-to-shore energy development project, which is expected to have a significant impact on the country’s economy and energy sector.

FAQs

Q: What is the estimated cost of the project?
A: The estimated cost of the project is US$660 million, with US$400 million already allocated by the government.

Q: What is the expected impact of the project?
A: The project is expected to attract sustainable investments across various sectors, create numerous job opportunities, and decrease energy costs by 50%.

Q: Who is partnering with the government on the project?
A: The government has partnered with ExxonMobil to develop the necessary infrastructure and facilities for the project.