Guyana's Ali Urges 'Immediate' Development of Gas Resources - Bloomberg
Guyana’s Ali Urges ‘Immediate’ Development of Gas Resources - Bloomberg
Guyana’s Ali Urges ‘Immediate’ Development of Gas Resources
- President Irfaan Ali says Guyana must monetize natural gas
- Exxon currently only produces oil from its Guyana fields
Irfaan Ali Photographer: Jose A. Alvardo Jr./Bloomberg
Guyana President Irfaan Ali called for the “immediate” development of its gas resources to make the South American country a regional energy powerhouse on top of its rapidly-growing oil exports.
The government is requesting that companies propose plans to finance and construct pipelines and other infrastructure that will allow the country to reap the economic benefits of its gas, Ali said at the Guyana Energy Conference & Supply Chain Expo in Georgetown Monday.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.