President Dr. Irfaan Ali announced this evening, plans to issue Requests For Proposals (RFP) on suitable models to best implement the nation’s gas strategy. This strategic maneuver, expected within the next week, signifies a crucial step by the government to swiftly monetize Guyana’s estimated 17 trillion cubic feet (tcf) of gas resources.
Ali said, “We have received all the comments in relation to the draft national gas strategy…We are integrating those comments with the initial document…so the final strategy will be out soon.” The head-of-state emphasized that the government will then explore efficient models to expedite the monetization of the entire gas asset portfolio.
The Ministry of Natural Resources had earlier released Guyana’s draft Gas Monetization Strategy on October 30, 2023, positioning it as a pivotal roadmap for managing the nation’s substantial gas reserves. However, concerns raised regarding the strategy’s technical aspects and information gaps.
Kevin Ramnarine, former Minister of Energy and Energy Affairs in Trinidad and Tobago, was hired to develop the heavily criticized Gas Monetization Strategy which was labeled as a “discussion paper”. He was paid US$20,000 for this task.
Vice President Dr. Bharrat Jagdeo had acknowledged these concerns during one of his press briefings, highlighting the government’s receptiveness to public input. Notably, the initial development of the strategy lacked involvement from experienced gas-producing partners, a factor that the government aims to address by seeking recommendations from entities like Qatar during the public consultation phase.
