In his keynote address at the 2024 Guyana Energy Conference and Supply Chain Expo today, President Dr. Irfaan Ali, spoke extensively about Guyana’s growing potential as a gas powerhouse and its pivotal role in addressing the energy needs of the region.
Highlighting the government’s strategic endeavors towards gas monetization, President Ali spotlighted the Wales Gas-to-Energy project.
He outlined that the initial phase of the project involves a 12-inch pipeline that will be bringing the gas onshore and will be operating at 40% capacity. He also disclosed that plans are underway for another phase to accommodate burgeoning demand.
Ali also noted the projected production of 4000 barrels of propane (cooking gas) per day in the first phase, with plans to export a substantial portion of this excess supply to meet the residential and commercial demands of the Dominican Republic market, as well as CARICOM and South American markets.
Underscoring the integral role of infrastructure development in regional integration, President Ali highlighted initiatives such as the construction of the Corentyne River Bridge to enhance market access in Suriname and the expansion of road infrastructure to Northern Brazil.
Ali said, “When people ask why build roads, why build bridges, this is the economic link that it creates. If we don’t have it, we will sit on 9000 barrels of propane and it can’t hatch, so you know some of these experts sometimes wonder…as to why you invest in roads and bridges…this is why.”
At full operational capacity, Guyana anticipates producing 10,000 barrels per day of propane and butane, further solidifying its position as a regional energy leader.
President Ali noted, “New infrastructure solutions for Guyana to develop and monetize on natural gas will undoubtedly support our CARICOM brothers and sisters and friends in Latin America to attain energy security, whereby Guyana will be uniquely positioned as a regional energy hub.”
With the foregoing in mind, Ali stated that Guyana is poised to emerge as a cornerstone of energy stability, supporting its CARICOM counterparts and allies in Latin America.
