By Josiah Williams
Vice President Dr. Bharrat Jagdeo reaffirmed the government’s commitment to moving forward with the Gas-to-Energy project, despite objections from political opposition and private entities.
Dr. Jagdeo emphasized the viability and immense benefits of the Gas-to-Energy project for the entire country, dismissing attempts to stymie its development.
He assured that funding for the project is not an issue, with an estimated cost of $646 million US dollars.
The government anticipates approval of the loan from the US Export Import Bank, expressing confidence in the progress of negotiations.
The project, a collaboration between the Government of Guyana, ExxonMobil, and other contractors, entails bringing gas from the Liza field offshore via pipelines to an integrated gas processing facility.
This facility includes a 300-megawatt power plant and a natural gas separation plant, aiming to enhance energy production in the country.
Dr. Jagdeo mentioned ongoing negotiations to finalize the Gas Sharing Agreement with ExxonMobil, highlighting that the gas will be provided at no cost.
He expressed optimism in reaching an agreement soon, indicating that the negotiation process is straightforward and nearing conclusion.
The Gas-to-Energy project will be situated at Wales on the West Bank of Demerara and is expected to significantly reduce the cost of electricity by up to 50 percent once operational.