The Government of Guyana has paved the way for the gas to shore project to come to life by 2024. The Cabinet today issued a “no objection” to the construction of the first of its kind facility in Guyana. The project includes the construction of a 300mw combined cycle power plant and natural gas liquids facility.
This breakthrough decision will now permit negotiations to begin in earnest between the government and the winning bidders CH4/Lindsayca — with a goal to have the terms of the agreement finalized by the end of this month.
This is a significant breakthrough for the project. Earlier this year at the inaugural International Energy Conference and Expo Guyana, focus was placed on Charting a Sustainable Energy Future. The gas to shore initiative will be a critical component to getting there.
H.E. President Ali made it clear at the event that the offshore gas drilling taking place at breakneck pace must benefit the Guyanese people as a whole and not just those connected to the business. This project will lead to lower energy costs significantly while maximizing the use of by-products from drilling.
In his announcement today Dr. Ali said “a family at the end of this project that now pays $20,000 per month in light bill or electricity costs will see that cost coming down to $10,000.”