Jan 2, 2025
Despite encountering minor challenges, the Gas to Energy project has reached significant milestones, as confirmed by President Dr. Irfaan Ali during his end-of-year press conference.
Among the achievements highlighted by the President was the completion of a 250-kilometre pipeline to a new facility on the West Coast of Demerara, a critical component of the project.
Additionally, the 300-megawatt combined power plant and the Natural Gas Liquids (NGL) facility have made substantial progress, with most equipment already manufactured and either delivered to Guyana or scheduled for delivery.
The project received a boost with the approval of a $526 million loan from the US EXIM Bank, which is expected to be fully disbursed in 2025.
However, President Ali acknowledged concerns about delays in the project’s timeline, stating that efforts are being made to address these issues.
The Gas to Energy project, which includes the construction of an Integrated NGL plant and the 300-megawatt combined cycle power plant at Wales, West Bank Demerara, aims to reduce electricity costs by 50%.
Beyond meeting domestic energy needs, Guyana aims to become a leading supplier of Natural Gas Liquids to regional markets.