In his opening remarks at the Guyana Energy Conference and Supply Chain Expo, President Dr. Mohamed Irfaan Ali announced a major infrastructure project that will ensure Guyana’s continued move toward energy independence.
The agreement between the Government of Guyana and Curlew Midstream would enable Guyana to execute trading agreements for United States-refined fuels to be stored in a state of-the-art, local fuel storage facility that will initially house 750,000 barrels of gasoline, diesel, jet fuel and heavy fuel oil. When operational the facility will supply not only Guyana with 100% of its domestic refined fuel needs but will also enable Guyana to export the highest quality, non-sanctioned fuels to its sister CARICOM nations.
With these volumes of fuel flowing between the United States and Guyana, through the Curlew terminal, price advantaged trading will result in an immediate, dramatic reduction in the wholesale and retail price of fuels that power the nation. These cost reductions will have the further impact of reducing the costs of all goods transported by air, road and river.
Additionally, the impacts of the reductions of fuel costs will be felt by businesses and households across Guyana in lower production costs of electricity generated by the burning of heavy fuel oil, prior to the completion of the massive gas-to-energy complex.
President Ali reiterated that in order for Guyana to move into its rightful and proud place in the growing regional economies, infrastructure must be viewed as one of the most vital puzzle pieces alongside education, healthcare, tourism and oil & gas. This project makes giant leaps
in that direction.
Curlew Midstream, located in Bentonville, Arkansas, is a US-based energy infrastructure provider facilitating the movement of hydrocarbons with terminal facilities in South Louisiana.
