Monday, July 4, 2022

Guyana extends deadline for companies looking to play role in establishment of natural gas facilities

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Guyana’s Ministry of Natural Resources on Wednesday published a notice of extension to the deadline for submissions of expressions of interest to partner on the imminent US$900 million gas-to-energy project.

While the previous notice had set a deadline of August 29, 2021, the new deadline is now September 14, an extension of just over 2 weeks.

Guyana’s President Dr. Mohamed Irfaan Ali said his administration plans to implement several projects that will deliver at least 500 megawatts of power by 2025. These initiatives, Vice President Dr. Bharrat Jagdeo said, are in keeping with the People’s Progressive Party/Civic’s mandate to deliver projects which will cut the cost of power in half.

“A political party has to fulfill its promises,” Dr. Jagdeo said in a recent interview. “We are accountable to the electorate and when we put a manifesto out that says we’re going to build the Amaila Falls because we’ve studied it, [that] we’re going to go for a gas-to-energy project, [we have to follow through because] we campaigned on this. People gave us the mandate to do this.”

Prospective investors in the gas-to-energy and related projects would be vying to partner with the government as well as ExxonMobil’s local affiliate, Esso Exploration and Production Guyana Limited (EEPGL).

The first component of the gas-to-energy project offers partnership in the design and utility of the outputs from the Natural Gas Liquids/Liquefied Petroleum Gas (NGL/LPG) facility and related facilities.

Another component seeks partners for the design, construction, and financing of the natural gas power plant, for which the power will be delivered to the national grid.

The third component requires investors to help develop value-added industries which may come from the processing of natural gas.

The foregoing components will form the heart and soul of the Wales Development Zone, an area that has been designated by the government for the establishment of heavy industries.

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