GEORGETOWN, Guyana, CMC – The Guyana authorities has introduced plans to monetize the nation’s pure gasoline sources shortly and can quickly request proposals.
“In one other week, we anticipate to exit to ‘Request for Proposals’ to maneuver in direction of implementing or requesting fashions by way of which we are able to transfer as shortly as attainable to monetize the full gasoline asset we have now in our nation,” President Urfaan Ali stated in a stay broadcast on his Fb web page.
Guyana began producing oil in 2019 as a result of profitable Stabroek Block offshore, and the federal government says it needs to harness the pure gasoline sources present in that offshore block to supply cheaper vitality and different merchandise.
The federal government has already launched the “Guyana Fuel Monetisation Technique” for public session that features monetization choices, together with utilizing pure gasoline for energy era and creating different merchandise equivalent to methanol, liquified pure gasoline (LNG), ammonia/ urea, and blue ammonia/ hydrogen.
“We acquired all of the feedback (and) we’re integrating the feedback with the preliminary doc,” President Ali stated, including that his administration would search proposals permitting the pure gasoline sources for use shortly.
In response to the draft gasoline monetization plan, roughly 17 trillion cubic toes of recoverable gasoline sources, primarily related to gasoline and condensates, are estimated to exist within the Stabroek Block.
The authorities stated that every one the gasoline produced is getting used for re-injection to keep up reservoir strain besides roughly 50 million normal cubic toes per day of gasoline produced from the Liza area, which will likely be transported to shore and used to generate 300 megawatts {of electrical} energy as a part of the Fuel to Power challenge and different attainable downstream initiatives.
The Fuel to Power challenge will function an built-in pure gasoline liquid plant and a 300-megawatt energy plant. It’s anticipated to return on stream in 2024. US-based built-in vitality options group LINDSAYCA, in partnership with an area agency – CH4 Group- is executing the challenge’s engineering, procurement, and development.
President Ali stated that Guyana will obtain web zero by 2050.
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