Critical to the further development of Guyana and the Caribbean is the successful implementation of its energy transition plan. Former President of Colombia, Ivan Duque highlighted this yesterday as he presented at the ongoing Guyana Energy Conference and Supply Chain Expo 2024.
Duque told those in attendance that the oil and gas boom in Guyana is connected to a development need. He said that it is wise to use the richness of the underground to defeat poverty on the ground.
In this regard, the former president noted that the Low Carbon Development Strategy (LCDS), first launched in 2009 has been updated and repowered. It now also focuses on the need for the cleaner production of electricity moving from heavy oil, closer to renewable using gas as a transition fuel. The strategy notes as well, the imminent use of renewables like water and nonconventional renewables like solar and wind energy.
Duque said that Guyana’s energy transition is connected to a strategic need, competitivity. He said, “It will allow the country to be more efficient in food production and more efficient in solving most of the food security needs of the Caribbean and also allow for a growing industrial base.”
He stressed, “The energy transition is indeed a strategic part of the Guyanese development agenda.”
Duque further voiced suspicion that some of Guyana’s energy transition projects can also become part of the voluntary carbon credit market.
