Latest update December 30th, 2024 2:15 AM
Latest News
- Guyana to pay back US EXIM Bank US$316.2M in interest on US$527M Gas-to-Energy loan
- Three shot, two stabbed as Linden gangs clash
- Israeli forces order new evacuation of besieged northern Gaza town
- Father killed, son hospitalised in Rupununi Bee attack
- ExxonMobil bullish about seizing remaining opportunities in Stabroek Block before license expires in 2027
$99B spent on Wales Gas plants to date, 58% of works completed – Prime Minister tells Parliament
…as House approves another $25.3B
Kaieteur News- The National Assembly on Wednesday approved an additional $25.3B to support the Natural Gas Liquids (NGL) facility and the 300-megawatt power plant being constructed at Wales, West Bank Demerara.
The two plants are crucial to the Gas-to-Energy (GTE) project, which also features a gas pipeline, being developed by ExxonMobil Guyana Limited (EMGL) to transport the resources from the Stabroek Block, offshore Guyana, to the Wales development site.
Prime Minister, Brigadier (ret’d) Mark Phillips and team in the National Assembly responding to questions
Approval for the additional sum was granted by the House following a thorough analysis of the amount requested by the Office of the Prime Minister. Brigadier (ret’d) Mark Phillips, Prime Minister of the Cooperative Republic of Guyana told the House that construction of the two plants is progressing well, with 58% of the works already completed to date by the contractor, CH4- Lindsayca.
While responding to a question from Opposition Member of Parliament, David Patterson on the project, PM Phillips explained, “The Natural Gas Power Plant and Natural Gas Liquid plant commencement contract (was) December 2022…the contract sum is $159B, expenditure prior to 2024 is $55.7B.”
Meanwhile, he also informed the House, “Expenditure as at today’s date is $44,678,828,886. The balance on the contract to date is $59,514,413,036 and you have the projected expenditure, you have the shortfall which is $23,816,018,413. Fifty-eight percent of the work has been completed.”
The Prime Minister also provided the National Assembly with a detailed breakdown for the $25.3B expenditure requested to support the project. Please see the table below for details.
It should be noted that EMGL is also making progress on the gas pipeline that is expected to be completed by the end of this year.
At a press conference in October, President of EMGL, Alistair Routledge told reporters that the pipeline was mechanically completed. He explained, “It’s been hydrotested, pressure test and we have been going through the dewatering exercise and then introducing nitrogen so we have a pipeline that is ready to introduce natural gas…”
He noted that Exxon’s responsibilities including the risers, pipeline through the deep-water, shallow water and onshore is on schedule for completion by this year end. To this end, he said, “So delighted to see that on course and on budget as well.”
$99B spent on Wales Gas plants to date, 58% of works completed
($99B spent on Wales Gas plants to date, 58% of works completed)
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Consent is not a veto
Peeping Tom… Kaieteur News- Bharrat Jagdeo, continues to muddle the discourse on the renegotiation of the Production... more
Breaking the Chains of Poverty: A need for political will
By Sir Ronald Sanders Kaieteur News- The year 2024 has underscored a grim reality: poverty continues to be an unyielding... more
Weekend Cartoon
