U.S. firm Fulcrum LNG has been chosen to assist Guyana in developing a comprehensive plan to design, finance, construct, and operate a natural gas processing facility, President Irfaan Ali announced on Thursday.
Fulcrum LNG’s proposal was selected from among 17 submissions for the project. The company will collaborate with Guyana and ExxonMobil, which leads the consortium responsible for all of the country’s oil production, President Ali revealed during a media briefing.
“We have identified a technical team to work with the stakeholders in coming up with the model and to negotiate a heads of agreement and look at the viability—technically and financially—of the project,” President Ali stated.
Guyana has been urging the Exxon-led consortium, which includes Hess Corp and CNOOC Ltd, to develop the natural gas reserves off its coast. If it chooses not to, it has been asked to relinquish areas where gas has been discovered.
