The Government of Guyana, through the Ministry of Natural Resources (MNR) yesterday announced the initiation of a public consultation for Guyana’s Gas Monetization Strategy, as promised by President Irfaan Ali.
The subject ministry highlighted in a release that this strategy is part of a pivotal roadmap for managing the nation’s significant gas resources.
It also serves as a vital tool for Guyana to make informed decisions regarding the utilization of its gas resources.
The Stabroek Block and the Corentyne Block hold substantial gas resources.
Ongoing exploration and appraisal activities are underway to determine the full extent of Guyana’s gas resources.
According to the government agency to date, the sanctioned projects in the Stabroek Block are exclusively oil-focused, including the Whiptail project which is currently under review. At Pluma, Haimara, and other discoveries with condensate, reviews are ongoing.
The Ministry of Natural Resources invited public engagement, including input from industry stakeholders and experts, to contribute to a productive discourse on the gas strategy. The insights and recommendations gathered during this period will play a crucial role in shaping the nation’s energy future, it said.
To access the Guyana Gas Monetization Strategy, visit the ministry’s official website at https://petroleum.gov.gy/.
The Ministry informed that the deadline for public consultation is November 14, 2023 as it is opened to feedbacks from the public and advised that all comments and recommendations be submitted to the Permanent Secretary at jmckenzie@nre.gov.gy.
People’s Progressive Party (PPP) General Secretary, Bharrat Jagdeo at a press conference a few weeks ago had announced that the draft of the National Gas Strategy (NGS) is expected to be available in the coming weeks for public consultation.
He had made these remarks during a press conference on party related matters at Freedom House, Robb Street.
“We also have received the gas utilization strategy and, hopefully, by next week, it will be out in the public domain for consultation… this is something I promised…” Jagdeo said.
He underscored that the National Gas Strategy will be one of several areas where the government was collaborating with the Government of India, as bilateral agreements on the development of Guyana’s remaining offshore resources continue to be considered.
“We’re going to get some of the consultants from India and other places to work with us on having a National Gas Strategy, which will determine what we do with the gas that has been found offshore so far. It then deals with the potential areas for bilateral co-operation in an exploration and developing of our natural resources,” the Vice President elaborated.
“Along with the discovery of over 11 billion barrels of oil offshore, Guyana has a substantial amount of associated natural gas. Though some amount of the gas is being re-injected into the wells, there is a considerable amount that could be utilized for other purposes”, he told reporters.
According to the Vice President, a lot of interest has been expressed as to how the gas could be utilized.
“Would it be fertilizer; buy, sell, plant, etc. … So, we are moving ahead faster on that bit,” he noted.
Despite ExxonMobil Guyana Limited’s initial argument that they need all of the associated gas to be pumped back into the wells to keep the quality of the wells up, the Vice President made it clear that the government has varying views on this subject.
