Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh, while representing President Irfaan Ali at the Export-Import Bank of the United States 2025 Annual Conference today, received the Bank’s Deal of the Year Award for Guyana’s Gas-to-Energy (GtE) Project on behalf of Guyana.
Speaking at the ceremony, Dr. Singh said President Irfaan Ali’s Government and the People of Guyana value and cherish the award for several reasons including the fact that the project reflects one of the more complex engineering projects ever undertaken in the country’s history with: (i) a 250 KM high pressure pipeline built by ExxonMobil starting a mile deep in the ocean; (ii) a 300 MW combined cycle power plant and NGL plant, under construction by Lindsayca/CH4 Systems; and (iii) for the first time, 230 KV transmission lines (and new 69 KV transmission lines), with substations, and a state of the art Control Center to dispatch the power.
Dr. Singh added that from the engineering and technical perspectives, the GtE project will benefit tremendously from the involvement of capable and experienced US partners and technical counterparts who have vast experience in delivering world class engineering and construction solutions.
Alluding to Guyana’s economic perspective, Dr. Singh said this project is a truly transformative one that affords Guyana the opportunity to double the country’s electricity generating capacity.
“When completed, it will enable us to reduce electricity tariffs to all consumers by 50 percent, bringing obvious benefits to households as well as to the productive sector especially those that are heavily dependent on electricity such as industrial and manufacturing activities, “ the Minister underscored as he pointed out that the project will also ‘significantly reduce our carbon footprint per KWH, using natural gas as a transition fuel, allowing Guyana to switch from heavy fuel oils to natural gas’.
Dr. Singh also noted that being the first project Guyana will be doing with US EXIM, it stands as a fitting testimony to the enduring and growing strength of the relationship between the United States of America and Guyana.
“Historically, our two countries have shared a strong relationship rooted in our shared values, foremost amongst which are our commitment to democracy and the rule of law, and our recognition of the role of the private sector, and private investment and trade, in generating economic growth and prosperity for all,” he further emphasized. He then expressed his deep appreciation for the recognition given to the extremely important project that Government is building. The Minister then further reiterated the importance of the project being completed in a timely manner so that all of the evident advantages that redound from it can be realised in the shortest possible time.
“I wish to signal also our intention to advance discussions with EXIM on a number of other transactions, including projects that are critical to port security and increased trade, as well as food security which continues to be a priority for Guyana, the Caribbean, and our entire hemisphere.,” the Senior Minister concluded.
In a release today, the US EXIM Bank said the GtE project plays a significant role in supporting US geo-economic and political objectives while advancing critical energy infrastructure in the Western Hemisphere. EXIM’s Acting President and Chairman Jim Cruse noted too that it is a strategically important energy project, upholds the Bank’s priorities and charter mandates, while supporting more than one thousand jobs across the country.
Representatives of the companies involved in the project also spoke at the event including Nelson Drake, Senior Vice President of Business Development for Lindsayca, Juan Bellosta, CEO of CH4 Systems and John Colling, Vice-President of ExxonMobil Guyana.
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