Guyana’s Vice President Bharrat Jagdeo has assured that consumers will benefit from a 50% reduction in power costs almost immediately after the Gas-to-Energy project becomes operational.
“I don’t know if it will be one day, a week, or so, but it should happen almost immediately,” Jagdeo stated at his Sept. 26 press conference. He explained that the new power plant would allow the shutdown of high-cost generating equipment currently in use, leading to significant savings.
The project, a collaboration between the government and ExxonMobil, aims to transport natural gas from the offshore Stabroek Block’s Liza oilfield to an integrated gas processing facility at Wales, West Bank Demerara.
Gas-to-Energy project obstructionists “hopelessly misguided” – Jagdeo | OilNOW
It will deliver natural gas liquids (NGL) and dry gas to the government. Construction of the 300-megawatt (MW) power plant began this year, with the facility set to be completed by CH4-Lindsayca at a cost of US$759 million.
ExxonMobil is handling the pipeline aspect, expected to be delivered by the end of the year. Reliable power is anticipated by the first half of 2025, significantly enhancing the country’s energy stability and affordability.
Read more about the project here: All you need to know about Guyana’s Gas-to-Energy project (Updated) | OilNOW
