The Government of Guyana has its sight set on moving forward with a second gas project to support the needs of the nation’s expanding energy and industrial landscape. This initiative would complement the nation’s first Gas-to-Energy (GtE) project set for start up in late 2025 and potentially support the establishment of an aluminum plant. During a press conference yesterday, President Irfaan Ali disclosed that a technical team has been formed to assess the viability of this new gas venture.
He said an Expression of Interest (EoI) for the project has already been completed, indicating a forward momentum in the government’s plans to harness Guyana’s natural gas resources for broader economic benefits.
“We have identified a technical team to work closely with stakeholders, including ExxonMobil and its partners, to develop a model for this major gas project. Our focus is to evaluate the project’s technical and financial viability,” President Ali stated.
President Ali elaborated on the government’s strategy, which encompasses a variety of potential uses for the natural gas. Among these is the possibility of exporting energy to neighboring regions such as northern Brazil and Suriname. This move could integrate Guyana into a regional energy network, enhancing energy security and cooperation across South America.
“We are considering the marketing of by-products and utilizing the natural gas in other jurisdictions. This project also aligns with the development of a shore base facility and additional power plants capable of exporting gas and power,” the head-of-state affirmed.
The second gas project is seen not only as a means to bolster energy output but also as a critical element in the establishment of an aluminum plant in Guyana. The government’s exploration of this industrial venture underscores its commitment to leveraging natural resources for economic diversification and job creation.
The aluminum plant, which would benefit from a reliable supply of natural gas, represents a significant opportunity for Guyana to add value to its mineral resources and reduce reliance on imported energy sources. By utilizing locally produced gas, the plant could operate more efficiently and cost-effectively, making it a cornerstone of Guyana’s industrial strategy.
When questioned about the financing for the new gas project, President Ali indicated that discussions are in the preliminary stages. The focus remains on establishing a robust technical and financial framework that will guide the project’s development.
“This project requires a careful examination of various financing options and partnership models. At this stage, our priority is to ensure the project is viable and aligned with our long-term economic goals,” he explained.
The development of a second gas project is not only significant for Guyana but also holds strategic importance for the region. By becoming a key player in the regional energy market, Guyana can enhance its economic influence and contribute to regional stability. The proposed energy corridor to Brazil and Suriname could facilitate energy trade and cooperation, fostering stronger economic ties and development across borders.
Moreover, the establishment of an aluminum plant supported by local gas resources could position Guyana as a leading producer in the region, attracting investment and boosting economic growth. This project underscores the government’s vision of transforming Guyana into a hub of energy and industrial activity, leveraging its natural resources to drive sustainable development.
