Energy

The European Union (EU) is providing a new model of infrastructure pr0ject financing to Guyana and other Caribbean and Latin American countries that will see the bloc continuing to provide grants with the expectation that international and regional financial institutions will inject massive amounts of cash for larger projects, EU Ambassador to Guyana René van Nes said Thursday. “This is ...

The US$1.7 billion gas-to-shore project, including the natural gas-fired power plant and natural gas liquids plant, is projected to save Guyana US$500 million annually after paying ExxonMobil US$55 million each year for the pipeline, Project Lead Winston Brassington said Wednesday. “Exxon projects that the quality of the gas, which is a very high quality gas- rich gas, will remain stable ...

Indigenous communities totalling 241 were Wednesday informed that they would each receive millions of dollars now that Guyana has received the first installment of US$75 million from American oil company, Hess Corporation, for the sale of forest carbon credits, but they first have to craft approved development plans. Vice President Bharrat Jagdeo, addressing Toshaos (Amerindian village chiefs) at the Arthur ...

Opposition A Partnership for National Unity+Alliance For Change (APNU+AFC) parliamentarian Ganesh Mahipaul on Friday said his then governing coalition and ExxonMobil never agreed that the US$160 million that would be spent on building a new headquarters building at Ogle, East Coast Demerara would be recovered from oil revenues. “I’m guided that there were discussions and there was no agreement with ...

ExxonMobil is awaiting the outcome of a review of the multi-million United States (US) dollar gas-to-energy project before making its Final Investment Decision (FID), though preliminary works have started along the route of the pipeline in the West Bank Demerara, a senior official said Thursday. “We are in review process with the Ministry of Natural Resources currently on the Field ...

Guyana on Friday announced that after negotiations with the American-owned CH4/ LINDSAYCA, that company has been confirmed to build the natural gas-fired electricity plant and natural gas liquids plant at a reduced cost of US$759 million. The first payment would come from GY$20 billion in the 2022 National Budget and the remainder would be a loan from the United States ...

Vice President Bharrat Jagdeo on Friday announced that bids for the estimated US$700 million gas-to-shore power plant and Natural Gas Liquids (NGL) would have to be manufactured by one of two Western companies. He said bidders would have to propose using either Siemens or General Electric (GE) technologies, but he gave no reason for government deciding to limit its preferences ...

Guyana, and Trinidad and Tobago on Thursday agreed to begin mapping an energy strategy to maximise and integrate their natural gas reserves with those from Suriname and Brazil into the proposed South America energy corridor. Trinidad and Tobago’s Prime Minister Dr Keith Rowley said energy officials of his country, Guyana and Suriname would meet and produce  recommendations by the end ...

President Irfaan Ali on Thursday said the United States (US) would be assisting Guyana in jointly assessing its hydro-electricity generation capacity. He told the opening of a Latin America and Caribbean meeting of the International Solar Alliance (ISA) that is one of the outcomes of his recent one-week visit to Washington DC where he held talks with the US Department ...

The ExxonMobil-led Esso Exploration and Production Guyana Limited (EEPGL) will have to be pay a higher fine of US$50 per tonne of carbon monoxide, up from US$30, if it breaches the flaring rules under its Environmental Protection Agency’s (EPA)-renewed five-year permit for the Liza 1 project in the Stabroek Block.  “The permit also goes further to require the Permit Holder ...