Guyana President Irfaan Ali said on Friday that the government is advancing plans for a large-scale gas development in Berbice aimed at creating a multiplier effect for the economy.
Speaking at a press conference in Georgetown on May 22, Ali said the government’s objective is not only to monetize gas resources quickly, but also to accelerate the development of onshore infrastructure capable of generating what he described as the “greatest multiplier effect” for Guyana.
“What we’re doing now is to try to find the best formula, looking at all the proposals on the table,” Ali said, referring to inputs from ExxonMobil, as well as a proposal linked to Fulcrum LNG.
“We want to ensure that we can monetize as quickly as possible, but at the same time, we want also to build out the onshore facilities as quickly as possible, so that we can leverage that gas to create the greatest multiplier effect for Guyana’s development, for our regional positioning,” he added.
The proposed Berbice development is separate from Guyana’s Wales Gas-to-Energy project, which is focused primarily on domestic electricity generation through a natural gas liquids facility and a 300-megawatt power plant currently under construction.
By contrast, the Berbice development is being positioned as a larger-scale industrial and potential regional integration project that could support energy-intensive industries and incorporate gas from neighboring Suriname.
Ali said discussions with Suriname are ongoing regarding how Paramaribo intends to develop its own offshore gas resources and whether future volumes could be tied into Guyana’s planned pipeline infrastructure.
“Of course, we are working towards having our pipeline to see whether they will feed into our pipeline. If that happens, of course the project goes up to a higher scale, massive additional opportunities,” Ali said.
Ali also pointed to strong international interest in opportunities associated with the project, particularly from U.S. investors.
“What I can say to you is, the interest, especially from the U.S. has been incredible in terms of some of the onshore buildout that comes based on that gas,” he said.
ExxonMobil is pursuing multiple gas development projects as it expands output from the Exxon-led Stabroek Block, where oil production surpassed 900,000 barrels per day months ago.
Exxon and the Guyana government have said the Berbice development would depend on projects such as fertilizer plants, alumina processing, data centers and expanded power generation to justify a pipeline that Exxon said could cost US$2 billion.
