Vice President, Dr. Bharrat Jagdeo revealed earlier today during a press conference at the Arthur Chung Conference Centre (ACCC) that ExxonMobil and the Government will co-own the imminent gas-to-shore pipeline but only up to 2026.
After this period, Jagdeo said the State will have full ownership of the infrastructure as the government would have completed repaying ExxonMobil for its share of investment.
That cost, he had previously noted, will be included in the final price ExxonMobil will charge Guyana to transport the gas from the Liza Phase One Project through the pipeline that is said to land at Wales. Jagdeo was keen to remind that the price has not been finalized as the government is working on hiring a Commercial Expert to lead negotiations on its behalf. The Vice President was keen to note that the government will be pushing to get the first 50 million cubic feet of gas free of charge. Should this be achieved, Guyanese would pay less than six US cents per kilowatt-hour.
Guyana Standard would have reported that the Vice President has been a staunch defender of the controversial gas-to-shore project ever since the government announced its intention to move ahead with it last year. He had said that while it could cost Guyana US$500 to US$800 million depending on the size and design, only when it goes to tender will the government know the true cost.
Whether the project would be fully government-funded or a public-private partnership arrangement, Jagdeo had said it is a no-brainer that there would be huge benefits for Guyana hence the administration’s push for it to become a reality by 2024.
