Based on the numbers received from Stabroek Block Operator, Esso Exploration and Production Guyana Limited (ExxonMobil’s subsidiary), the People’s Progressive Party/Civic (PPP/C) is confident that the overall cost for the imminent gas-to-shore project will not go above US$900M.
This was revealed earlier today by Vice President, Dr. Bharrat Jagdeo and head of his Gas-to-Shore Taskforce, Winston Brassington during an engagement with the press at the Arthur Chung Convention Centre.
In providing a breakdown of the costs, Brassington noted that the offshore pipeline and riser will cost approximately US$570 to US$630M while the estimate for the onshore pipeline that would land at Wales will cost between US$80M to US$100M. As for the gas plants and other infrastructure, the estimates are US$120M and US$40M-US$50M respectively. Depending on how successful the government is in ensuring cost savings, the project could be as low as US$810M.
Further to this, Jagdeo was keen to note that the government has received a commitment from ExxonMobil to supply the project with 50 million cubic feet of gas per day which would allow for the generation of 250 megawatts of power via its 300 megawatts plant.
It was also noted that once the project comes on stream by 2024, Guyanese and their traditional industries will benefit from power generation at less than four US cents per kilowatt hour.
