Bring in outside experts to get the gas project right – Industry Analyst
By Shikema Dey
Kaieteur News- Cleaner, cheaper and more reliable electricity are just a few key benefits that Guyana could gain from its proposed Gas-to-Shore slate for home in Wales, the West Bank Demerara. But those sweet benefits can only be reaped if the project is run properly. And with the help of international experts, Guyana would be well placed to achieve this goal.
Former Wales Estate, Westmeath Demerara where the infrastructure for the onshore gas project would be built
Giving that advice was the Vice President (VP) and Energy Strategist at Eversource Energy, Roger Kranenburg who appeared on a recent onshore Gas virtual discussion hosted by OilNOW. There, the Energy Strategist outlined that Guyana, along with sourcing international experts, should look to other nations that successfully transformed to use natural gas as their main source of power.
He highlighted the Middle East country, Iran, which currently holds the title of having the largest gas reserves in the world
Vice President and Energy Strategist at Eversource Energy Company, Roger Kranenburg
. According to the Iranian Ministry of Petroleum, Iran’s proven natural gas reserves are about 1,201 trillion cubic feet (34.0 trillion cubic meters) or about 17.8% of the world’s total reserves, of which 33% are associated gas and 67% in connection with gas fields.
The country has enough gas to export to countries like Armenia, Azerbaijan and Turkey and many others while raking up billions of profits every year. Of significance, however, is the fact that it did not reach that far without the help of international experts and investors to push it to success.
Currently, the Government is receiving increasing criticism as regional and international experts believe it is rushing ahead with the project without first determining its feasibility. Even as a location has already been identified for the project, critical studies such as Environmental Impact Assessment (EIA) or Financial Feasibility analysis have not yet been done.
Only recently, the Vice President, Dr. Bharrat Jagdeo that geophysical study, geotechnical study, lidar study along with the Environmental Impact Assessment (EIA) will begin in the coming months.
Even with those concerns, Kranenburg advised Guyana “not to exchange itself” as the benefits of the project outweighed the risks. He also said Guyana should not “go too fast” with the project as it would not bode well for the country’s long-term development.