Monday, September 25, 2023

GTE will unlock Guyana’s new energy mix, says Ali as contract awarded for onshore plants

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Guyana’s President, Dr. Mohamed Irfaan Ali, said that the Gas-to-Energy (GTE) project will unlock the country’s new energy mix, as he presided over a major contract signing in the development.

The signing is for the award of a contract to the consortium of CH4 and Lindsayca for the engineering, procurement and construction (EPC) of the power plant and natural gas liquids (NGL) facility at Wales, on the West Bank of the Demerara River.

The contract was signed in the presence of representatives of the Ministry of Natural Resources, ExxonMobil, the United States Embassy in Guyana, and the Gas to Energy Task Force, at the Office of the President in Georgetown.

Ali said this represented a milestone in kicking off the largest project that Guyana has ever embarked on, which brings its own challenges. Nevertheless, he said all partners, including the Gas-to-Energy Task Force and ExxonMobil, were able to progress the project in miraculous time.

He explained that GTE is the catalyst that will accelerate Guyana’s energy transition, providing the financing and fiscal space for the government’s renewable agenda to unfold.

“This project is not only about the generation of power and liquids… Understanding the opportunities that this project will unlock for us as a country, it is enormous, from the liquids perspective, from energy [perspective], from building our competitiveness…”

The government has already started rolling out solar projects along the coast and a massive hydropower project at a hinterland waterfall.

Vice President Dr. Bharrat Jagdeo said the GTE project remains consistent with the government’s low-carbon agenda.

He said this project, complemented by solar and hydropower will triple electricity generation capacity and cut Guyana’s emissions by 70%.

The GtE project involves a natural gas pipeline that will extend from ExxonMobil’s Liza field projects to the plants at Wales. The pipeline will be built by ExxonMobil.

Dr. Jagdeo assured that all details of the US$2 billion project will be made public.

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