Govt. advances US$400M for Gas-to-Shore Project; amid delays for US Exim Loan

The Gas-to-Shore energy project in Wales, West Bank Demerara (WBD), is making significant strides as the government commits US$400M from its resources to propel the development forward.
Vice President and General Secretary of the ruling People’s Progressive Party (PPP), Bharrat Jagdeo gave the confirmation during a press conference yesterday at Freedom House in Georgetown where he also disclosed that the project is progressing despite delays in securing a US$660M loan. He also confirmed that the Senior Minister within the Office of the President, with responsibility for Finance and Public Service, Dr. Ashni Singh, is scheduled to meet with US EXIM Bank executives to further advance the financing request.
“We have already allocated approximately US$400 million from our resources, covering more than half of the project’s cost. This is advantageous for us, as we can later seek reimbursement due to the structure of the financing,” Dr. Jagdeo stated.
The Gas-to-Shore project includes the construction of a 200-kilometre pipeline to transport gas from the Liza Destiny and Liza Unity Floating Production facilities offshore to the West Coast Demerara. From there, the pipeline will extend approximately 25 kilometres to the site of a new Natural Gas Liquid (NGL) plant in Wales.
Once completed, the Gas-to-Shore project is expected to have a transformative impact on Guyana’s economy, attracting sustainable investments across various sectors and generating numerous job opportunities. Additionally, the project is anticipated to reduce energy costs by 50%, providing more affordable and reliable electricity to the people of Guyana.
Dr. Jagdeo emphasised the government’s commitment to the project, stating, “The project will be completed, even if it requires full funding from our own budget.”
The government has partnered with ExxonMobil to develop the necessary infrastructure and facilities to transport and process the gas for power generation and other applications.