Guyanese regulators are in the process of finalizing the nation’s gas strategy, which will guide authorities in transforming the country into a hub for regional integration. Speaking on the importance of the strategy, President, Dr. Irfaan Ali recently reminded that a draft was placed into the public domain for a two-week consultation period.
When that period ended on November 14, 2023, he said the government received more than 20 contributions on how to best utilize the 17 trillion cubic feet of gas discovered in the ExxonMobil-operated Stabroek Block. Ali said those comments are being integrated into the final document, following which, the strategy would be released into the public domain for perusal.
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The Head of State noted that the strategy is critical as it is intended to position Guyana as the center of regional energy integration. “That entails the integration of Northern Brazil, Suriname and CARICOM. We want to be the centrepiece of that integration, the regional energy integration, and gas and all the associated products that come with gas, allows us that opportunity to position ourselves nicely within the regional energy integration framework,” the president explained.
Apart from regional energy integration, Ali said the strategy will provide the basis for Guyana to be the centre of the regional logistic chain. “That means, we now have to invest in our marine economy in ensuring we have the right marine assets to support the building out of this industry by creating opportunities for dry docking for marine engineers,” Ali said. He also underscored his interest in seeing the local private sector form a consortium to be part of the benefits that will flow from this train of opportunities.
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With natural gas poised to play a critical role in Guyana’s energy mix via the gas-to-energy project, the Guyanese leader said even the government’s vision for building a regional food hub will see tremendous benefits. He said this includes advances in packaging, manufacturing, storage, and distribution.
Overall, Guyana’s forthcoming gas strategy holds the promise of not only augmenting its geopolitical importance, but also, driving progress in various economic sectors, including energy, food production, and manufacturing.
