Approval was granted on August 9 to the Guyana government for the additional GY$5 billion in funding to advance its Gas-to-Energy project.
Guyana’s Finance Minister, Dr. Ashni explained to the House that the sum will be used mainly for the Engineering, Procurement and Construction (EPC) contract for the 300-megawatt (MW) power plant, being constructed at Wales, West Bank Demerara.
The US-based partnership CH4/Lindsayca will be constructing the power plant in an integrated facility with a natural gas liquids (NGL) plant, at a cost of US$759 million.
The GY$5 billion will also be used for project management and supervision expenses and components relating to the upgrade of Guyana’s Transmission and Distribution Network.
Kalpataru Projects International Limited (KPIL), an Indian company secured the US$159 million contract to develop transmission lines and substations, both of which will be pivotal in bolstering the project. The transmission infrastructure, scheduled for completion by 2024, plays a crucial role in supporting the power plant.
GtE is touted as the most transformational project in Guyana’s history.
It involves building a pipeline to transport 50 million cubic feet of natural gas from the Liza field operated by ExxonMobil to the processing facility at Wales.
The project is already moving apace with construction shaping up at the Wales site. A Materials Offloading Facility (MOF) is also being constructed.