Latest update March 28th, 2025 6:05 AM
Latest News
- “It will be a very bad day for Venezuelan if they attack Guyana or ExxonMobil”—Rubio declares
- Guyana gets info on U.S. tax evasion allegations against Mohameds, Mae Thomas
- US$35 injected into banking system to address foreign currency shortage—VP Jagdeo
- Citizens to stage protest today against lack of access to information in Guyana
- Guyana vows to stand with U.S.
Govt. will do feasibility study to determine if processing gas here or in Trinidad more cost effective – VP Jagdeo
Kaieteur News – Vice President, Dr. Bharrat Jagdeo disclosed on Thursday that a feasibility study would have to be done to determine if it is more cost effective to pipe some of Guyana’s gas resources to Trinidad and Tobago located hundreds of miles away for processing, or utilize a floating platform for Liquefied Natural Gas (LNG) off Guyana’s coast.
Vice President, Dr. Bharrat Jagdeo
The Guyanese official made this comment in response to remarks by Opposition Leader, Aubrey Norton. During a press conference on Thursday, Norton had accused the PPP/C Government of ignoring the call by Prime Minister of Trinidad and Tobago, Dr. Keith Rowley for there to be greater collaboration among regional partners on oil and gas development. Rowley had made this call during his participation at the Guyana Energy Conference and Supply Chain Expo which was held at the Marriott Hotel from February 19 to 22. Rowley’s Energy Minister, Stuart Young had also expounded on the need for collaboration as he said Guyana could utilize Trinidad’s existing infrastructure and expertise to process its gas resources. Young had assured that the benefits would be immediate for Guyana if it were to go this route.
During his press conference on Thursday, Jagdeo said it is indeed a fact that authorities here are intent on aggressively monetizing its gas resources. He said it is for this reason the government is seeking an experienced partner to work alongside ExxonMobil to push the development of the resources in the Stabroek Block.
“We are now in the process of selecting a core investor to work with Exxon on this project to push them even faster on monetizing the gas because the world has now accepted gas is a transitional fuel,” said Jagdeo.
Where Trinidad is concerned, he said government is aware that the CARICOM nation is hunting for proven resources, given that its own gas reserve is dwindling.
The Vice President said it is the government’s intention to examine all options carefully, including the possibility of moving gas to Trinidad versus processing it in Guyana for industrialization purposes and possibly on a floating platform for LNG. Jagdeo said too that the government is also open to examining potential areas of collaboration with Suriname when it gets going with its deepwater project.
As he acknowledged that all possibilities will be properly examined, he also underscored that “everything has to be done on the basis of a feasibility study” to understand how much each option would cost.
He stressed that decisions cannot be made based on good will or desire alone or else they would not be financially feasible. The Vice President said such critical decisions have to be determined on the basis of what is good for his country and what will be viable in the market place.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
The PPP has started the intimidation
Peeping Tom… Kaieteur News- In politics, as in life, what goes around comes around. The People’s Progressive Party/Civic... more
The Caribbean: Destined to Grin and Bear the Consequences of Its Self-Created Vulnerabilities?
By Sir Ronald Sanders For decades, many Caribbean nations have grappled with dependence on a small number of powerful countries... more
Weekend Cartoon
