The government says a gas-to-energy project will be built.

GEORGETOWN, Guyana, CMC – The Guyana government says the gas-to-energy project being developed at Wales at the Essequibo Islands-West Demerara region will go ahead despite protests by various political entities and organizations to halt its development.

“The gas-to-energy will be built. It is a commitment that we made, and despite every attempt to kill this project, it won’t succeed,” Vice President Bharrat Jagdeo told a news conference.

Jagdeo told reporters that the government remains confident that the US$646 million loan sought from the US Exim Bank will be secured in the second quarter of this year, further advancing the energy project.

“We have a great working relationship with the US ExIm Bank. We’ve had bipartisan support on this loan. You think a few loonies … or the others who been trying to block this project; you think that the people who did an assessment of this project in the US are as stupid as they are,” he added.

The government says when completed, the multi-million dollar project will significantly reduce the cost of electricity by 50 percent, allowing consumers to save approximately US$100 million annually.

It will also trigger massive economic expansion in the manufacturing and industrial sectors, which will, in return, create job opportunities and attract foreign investment while simultaneously facilitating a smooth transition towards renewable energy.

In the 2024 budget, a GUY$80 billion (One Guyana dollar=US$0.004 cents) has been allocated to advance the project, including transmission and distribution upgrades to offtake the power.

The project will result in a 200-kilometer pipeline bringing gas from the Liza Destiny and Liza Unity Floating Production fields onshore. Upon arrival at the West Coast Demerara facility, the pipeline will continue for approximately 25 kilometers to the Natural Gas Liquid (NGL) plant to be constructed in Wales.

The government has partnered with ExxonMobil to develop the necessary infrastructure and facilities to transport and process the gas for power generation and other applications.

The project is expected to have a life span of 25 years.