Bring in external experts to ensure gas project is done right

Bring in external experts to ensure gas project is done right – Industry Analyst

Mar 15, 2021 News

By Shikema Dey

Kaieteur News- Cleaner, cheaper, and more reliable electricity are just a few key benefits Guyana could gain from its intended Gas-to-Shore project slated to be housed at Wales, West Bank Demerara. But those sweet benefits can only be reaped if the project is executed in the right way. And with the help of international experts, Guyana would be well positioned to achieve this goal.

The Former Wales Estate, West Bank Demerara where the infrastructure for the gas-to-shore project would be built

Giving that advice was Vice President (VP) and Energy Strategist at Eversource Energy, Roger Kranenburg who appeared on a virtual Gas-to-shore discussion recently hosted by OilNOW. There, the Energy Strategist outlined that along with sourcing international experts, Guyana should look to other nations that successfully transitioned to using natural gas as their primary source of power.

He pointed to the Middle East country, Iran, currently holding the title of having the largest gas reserves in the world

Vice President and Energy Strategist at Energy Company Eversource Energy, Roger Kranenburg

. According to the Iran Petroleum Ministry, the proven natural gas reserves of Iran are about 1,201 trillion cubic feet (34.0 trillion cubic metres) or about 17.8% of world’s total reserves, of which 33% are associated gas and 67% is in non-associated gas fields.

The country has enough gas to export to countries like Armenia, Azerbaijan and Turkey and many others while raking billions in profits yearly. Of significance however, is the fact that the country did not get that far without the help of international experts and investors to push them into success.

Presently, the Government is receiving mounting criticisms as regional and international experts believe it is rushing ahead with the project without first determining its feasibility. Even as a location has been pinpointed already for the project, critical studies such as an Environmental Impact Assessment (EIA) or a Financial Feasibility analysis are yet to be done.

Only recently, Vice President, Dr. Bharrat Jagdeo informed that a geophysical study, a geotechnical study, a lidar study along with the Environmental Impact Assessment (EIA) will commence in the months to come.

Even with those concerns, Kranenburg advised Guyana to “not shortchange itself” as the benefits of the project outweigh the risks. He advised as well that Guyana should not “go too fast” with the project as it would not bode well for the country’s development in the long run.

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