CGX Energy has once again delayed the completion of its ‘Berbice Deepwater Port’, with the latest update projecting the completion of its oil and gas support functionalities to early 2025.
In the company’s 2023 third quarter report, CGX said a 50 x 12-meter access trestle from the quayside yard into the Berbice River has been completed. This development was achieved on budget and without any health, safety, and environment (HSE) related incidents.
With significant infrastructure projects in Region Six, CGX had said it was encouraged to ensure the early completion of the cargo aspects of the port. The initial cargo operations are expected to commence in the first quarter of 2024, with a focus on importing and storing aggregates. Full operation of the cargo terminal is forecasted for the second half of 2024.
However, the operation of the port’s oil and gas support facility is now slated for early 2025, contingent upon construction schedules, financing, and supply chain factors. CGX had initially set the timeline for launch of the support base at mid-2024. The company has been criticized by Guyana government officials for construction delays.
CGX said it is also fostering partnerships with Brazilian and Guyanese companies for handling cargo to and from Roraima and Amazonas, the northern states of Brazil.
Vice President of Guyana, Dr. Bharrat Jagdeo, had said the Berbice Deep Water Port does not qualify as an actual deep-water port capable of accommodating large vessels like Panamax ships. Nevertheless, there is significant economic potential in the port’s operations once complete, for the economy of Berbice. It will be an offshore supply base for the oil and gas industry and a multipurpose terminal for various cargoes, including agricultural products, containerized goods, and construction aggregates.
CGX has warned there is no guarantee its efforts to secure financing to complete the port would be successful.
