If Guyana can get an estimated US seven cents per KWH projected for electricity from the onshore gas project, it should seize the opportunity as this could be a catalyst for broad economic development but it must The assumptions are supported by sound studies, a financial analyst. Floyd Haynes said.
As debate on the estimated $ US500M -US $ 800M proposed project continues, Haynes argues that natural gas at half the cost of Guyana’s current Heavy Fuel Oil rate cannot significantly reduce environmental pollution but the benefits of The resulting results also provide a boost to other areas of development.
“The cost using HFO (Heavy Fuel Oil) is [US] 14 cents, using gas [US] 7 cents. This cost includes Operations and Maintenance as well as Capital costs. When you manage for these two costs, which means you subtract those two numbers, you’ll find that the current cost would be somewhere around [US] 10.7 cents for Heavy Fuel Oil a [3.4 cents] using natural gas, ”Haynes told Stabroek News in an interview.