The Guyana government is in discussions with U.S. company Curlew Midstream to fine-tune a refined fuels deal, President Irfaan Ali announced on Tuesday.
An initial US$300 million is expected to be invested in early stages.
Ali explained to reporters on the sidelines of the Guyana Energy Conference and Supply Chain Expo that a storage facility will be constructed in the country. There is the expectation that the fuels will be refined elsewhere.
“We’re looking at 30,000 barrels at the end of 2025, refined and send back into Guyana where we will have a massive storage facility and that will be expanded upon to become a major supplier to Northern Brazil and the wider Caribbean,” he explained.
However, the deal is still being deliberated on and Ali declined to go into more specifics. He did say though, that the deal will bode well for Guyana’s energy security.
A later release from Curlew explained that the “state-of-the-art”, local fuel storage facility will initially hold 750,000 barrels of gasoline, diesel, jet fuel and heavy fuel oil.
“When operational the facility will supply not only Guyana with 100% of its domestic refined fuel needs, but will also enable Guyana to export the highest quality, non-sanctioned fuels to its sister CARICOM nations,” the release noted.
The company said with these volumes of fuel flowing between the US and Guyana, through the Curlew terminal, price advantaged trading will result in an “immediate, dramatic reduction in the wholesale and retail price of fuels that power the nation.”
Curlew Midstream, located in Bentonville, Arkansas, is a US-based energy infrastructure provider facilitating the movement of hydrocarbons with terminal facilities in South Louisiana.
