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Arbitration panel set for foreign contractors suing government for US-millions in cost overruns in relation to Wales GTE Project
Vice President (VP), Dr. Bharrat Jagdeo
…Team to visit next month
Kaieteur News – The arbitration panel for US-million cost overruns claimed by United States-based Lindsayca and CH4 joint venture against the Government of Guyana (GoG) is set to visit next month, Vice President (VP) Bharrat Jagdeo announced on Thursday at his weekly press conference.
Jagdeo told reporters that he was under the impression that the arbitration panel was visiting last week. However, he added, “But I was told it’s in October…I know the panel is fully composed now and they are visiting.”
Notably, the Vice President stated that he does not know who the third member of the arbitration board is. That person was agreed upon by the government and the companies.
Back in April, the joint-venture made a claim against the Government for some US$90M in cost overruns for construction delays for the Wales Gas-to-Energy (GTE) project.
In December 2022, CH4-Lindsayca was awarded a US$759M contract for the construction of two components of the GTE project, the Natural Gas Liquids (NGL) Facility and the 300 megawatts (MW) power plant. It should be noted that at a previous press conference, the VP said that while it was reported that there is a dispute over US$90M, this was inaccurate. He said the amount stood at around US$50M but the figure needed to be verified.
The GTE project will see the utilization of Guyana natural gas resources being piped from ExxonMobil Guyana Limited (EMGL) Stabroek Block operations to the location in Wales. Exxon is responsible for the construction of the 140-mile (225-km) gas pipeline with a price tag of US$1 billion. The oil company has promised to deliver the pipeline by the end of this year. This gas pipeline will be connected to the combined onshore facilities, which falls under the purview of the government. Exxon will have to supply gas from the Stabroek Block to the 300 megawatts power plant and the NGL facility.
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