The Government of Guyana has paved the way for the Gas to Shore project to come to life by 2024. The Cabinet today issued a “no objection” to the construction of the first-ofits-kind facility in Guyana. The project includes the construction of a 300MW combined cycle power plant and natural gas liquids facility.
This breakthrough decision will now permit negotiations to begin in earnest between the government and the winning bidders CH4/ Lindsayca, with a goal to have the terms of the agreement finalised by the end of this month.
This is a significant breakthrough for the project. Earlier this year at the inaugural International Energy Conference & Expo Guyana, focus was placed on Charting a Sustainable Energy Future. The Gas to Shore initiative will be a critical component to getting there.
H.E. President Dr Ali made it clear at the event that the offshore gas drilling taking place at breakneck pace must benefit the Guyanese people as a whole and not just those connected to the business. This project will lead to lower energy costs significantly while maximising the use of by-products from drilling.
In his announcement today Dr Ali said, “A family at the end of this project that now pays $20,000 per month in light bill or electricity costs will see that cost coming down to $10,000.”