President Dr. Irfaan Ali has charged the private sector to ensure they invest in Guyana’s energy sector, as this is a crucial time in the country’s development.
The Head of State has charged the business sector to make the most of opportunities available in the energy sector.
“I want to encourage you to look beyond the obvious. We are going to have some auctions now for some additional blocks. If you have joint consortiums who are interested in those blocks, definitely take a shot at it.”
He was at the time speaking early on Wednesday at the signing of a partnership agreement between Guyana and the United Kingdom (UK) at the Marriott Hotel in Georgetown.
Guyana recently invited Expressions of Interest (EOI) for the establishment of a 30,000-barrel oil refinery in Region Six.
The government will be receiving those submissions within the next few months from those who are interested in investing in the refinery.
This, he highlights, creates massive opportunities that will bring tremendous benefit to those who take advantage of it.
“We have already done enough research to understand the business of refining. But what we understand clearly is that you need some national security, when it comes to refined products and oil products in your country. And if you have the opportunity to get the private sector to give you that make investments that give you that kind of security you better take it, in the world we live in.”
Experts say that natural gas can be used as a transitional fuel from hydrocarbons to green energy.
This is something the Government of Guyana has spoken on extensively as the country braces for rapid economic growth alongside its booming oil sector.
President Ali reminded that this will lead to development across a wide array of sectors and should make Guyana a Caribbean leader in food security, technology, health, technology and education; as well as an economic hub for the Latin American and Caribbean region.