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ExxonMobil Country Manager says… Gas project shows importance of ‘right Govt.’
…Overseas Investors must be welcomed with confidence of making money
Kaieteur News – ExxonMobil Guyana Country Manager, Alistair Routledge, on Tuesday sang praises of the People’s Progressive Party (PPP) Government while referencing the Wales Gas-to-Energy (GTE) agreement which was reached earlier this year.
Routledge was at the time delivering remarks at the opening ceremony of the Guyana Supplier Forum at Leonora, West Coast Demerara (WCD) where he said the gas project is a major development project for Region Three.
ExxonMobil Guyana Country Manager, Alistair Routledge, delivering remarks at the Guyana Supplier Forum
“We will deliver 50 million cubic feet per day of gas from the Liza Field onshore, through a high pressure pipeline…talking again to how important it is to the country that we have the right Government, the right longer term vision to invest in the country, to be thoughtful of the infrastructure but also to welcome overseas investors to create the right environment for partnerships, for investment so those in overseas markets can come confident that they can invest, confident that they can make a return but also confident that they can make a difference here in Guyana,” he said.
The ExxonMobil Official noted that after much consideration on the gas project, “we aligned with the Government on the fundamentals of the project”.
Routledge explained that more than 1000 local businesses have benefitted from his company’s investment in the development of the country’s oil since 2015. He also boasted that Exxon and its contractors have spent more than US$700M or over GYD$114B through those suppliers since 2015.
“In the first half of this year alone we spent more than US$127M or $25.4B local currency with those suppliers,” Routledge remarked.
It must be noted that the PPP Government is pursuing the GTE project in the absence of updated feasibility studies, even though the cost of the venture has increased by hundreds of millions of US dollars.
On the other hand, the major political Opposition, the APNU/AFC, has said plans to reduce electricity costs involves the use of renewable energy, as this has been proven to be the cheaper and safer method.
However, Opposition Leader Aubrey Norton told this newspaper that he has not ruled out the use of gas-to-power electricity but believes this option must be pursued only after proven feasible.
The Gas-to-Energy project will encompass three major aspects, that is, the pipeline to transport the gas to Wales, the Natural Gas Liquids (NGL) facility that will treat and separate the gas, and the power plant to generate some 300 megawatts of electricity.
So far, Guyanese have been told that the pipeline aspect, which is being pursued by ExxonMobil, will cost around US$1.3B, while the other two facilities are expected to cost approximately US$700M.
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