Guyana advance energy inc

What are the economic benefits of gas to power project in Guyana?

The gas to power project in Guyana has significant transformational opportunities, particularly in that natural gas is a cheaper, more reliable, and cleaner source for electricity. The expected economic benefits are as follows:

Which recommendations are applicable for Guyana's gas to power project?

The following recommendations are therefore applicable for Guyana’s gas to power project. Adequate grid infrastructure, policy, and legislative changes are required to ensure that all Guyanese benefit entirely from the gas to power project.

What is Guyana's gas-to-energy project?

The gas-to-energy project which is expected to come on stream by late 2024, is expected to reduce Guyana’s energy sector emissions. The project will also cut electricity cost by more than half. The cost has long been regarded by the private sector as prohibitive to investments.

Is liquefied natural gas (LNG) a viable solution for Guyana?

Phase 2 associated gas is planned to be utilized for liquefied natural gas (LNG) production, depending on the capacity. According to the Gas Master Plan Update (2021), the Gas to Power solution is economically viable for Guyana, with the recommendations for a phased development (see Figure 1 below).

Who is responsible for oil & gas exploration in Guyana?

Guyana established a Department of Energy (DE) but this has been dissolved and its responsibilities fully integrated within the Ministry of Natural Resources responsible for the management of the sector. The existing legislative framework in Guyana gives responsibilities to various Ministers in areas related to the exploration of oil and gas.

Who owns the electricity industry in Guyana?

The electricity industry is operated by the state-owned electricity company, Guyana Light and Power Inc. (GPL), with an installed operating capacity of 337 MW in 2020 .