Gas-to-energy project will be built despite attempts to halt its development – VP Jagdeo assures

– optimistic loan will be secured in 2024

The hallmark Gas-to-energy project being developed at Wales, Region Three (Essequibo Islands-West Demerara), which is eminent to Guyana’s development trajectory will go ahead despite protests by various political entities and organisations to halt its development.

Vice President Dr Bharrat Jagdeo made this affirmation on Thursday in response to questions posed by media operatives during his weekly press engagement at the Office of the President, Chiv Chanderpaul.

Vice President Dr. Bharrat Jagdeo

“The gas-to-energy will be built. It is a commitment that we made and despite every attempt by Kaieteur News, by Glenn Lall, by everyone else, the APNU to kill this project – it’s not going to succeed,” the vice president firmly stated.

The senior government functionary also expressed optimism that the US$646 million loan being sought from the US Exim Bank will be secured in the second quarter of 2024, further advancing the energy project.

“We have a great working relationship with the US Ex-Im Bank. We’ve had bipartisan support on this loan. You think a few loonies … like Kaieteur News, Glenn Lall or the others who been trying to block this project; you think that the people who did an assessment of this project in the US are as stupid as they are,” he questioned.

When completed, the multi-million project will significantly reduce the cost of electricity by 50 per cent, thereby allowing consumers to save approximately US$100 million on an annual basis.

It will also trigger massive economic expansion in the manufacturing and industrial sectors which will in return, create job opportunities and attract foreign investment while simultaneously facilitating a smooth transition towards renewable energy.

In the 2024 budget, some $80 billion has been allocated to advance this project and its associated infrastructure, including transmission and distribution upgrades to offtake the power.

The highly anticipated project will see a 200-kilometre pipeline bringing gas from the Liza Destiny and Liza Unity Floating Production fields onshore.

Upon arrival at this West Coast Demerara facility, the pipeline will continue for approximately 25 kilometres to the Natural Gas Liquid (NGL) plant to be constructed in Wales.

The government has partnered with ExxonMobil to develop the necessary infrastructure and facilities to transport and process the gas for use in power generation and other applications.

The project is expected to have a life span of 25 years.

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