A review of the Liza Field Development Plan (FDP) and license is on Guyana’s agenda for 2023 to allow for the production of natural gas for commercial use in the country.
Its Senior Minister of Finance, Dr. Ashni Singh made the disclosure during his 2023 national budget presentation.
In its 2023 budget, the Guyana government has allocated GY$43.3 billion towards the GtE project. The funds are going towards the construction of the power plants which will cost US$759 million, and associated costs.
Its landmark gas project is pegged to cost over US$2 billion and will deliver natural gas from the Liza field in the Stabroek Block to the onshore Wales Development Zone, where power will be generated for electricity and natural gas liquids (NGLs) will be generated for domestic uses and potential export.
US-based partnership CH4/Lindsayca was granted a no-objection by the government to construct the 300 megawatts (MW) combined cycle power plant and NGL facility.
GtE is touted as the most transformational project in Guyana’s history.
Guyana’s gas reserves as of 2022 increased to over 17 trillion cubic feet; 50 million cubic feet per day will be utilised for the country’s landmark Gas-to-Energy project at Wales, from the Liza field.
The Minister disclosed that Stabroek Block operator – ExxonMobil – submitted a Gas Utilisation Study through the Yellowtail Production License for the remainder of Guyana’s gas reserves. That review is currently underway.