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Industry experts believe ExxonMobil deal not fair to Guyana

January 01, 2021

Kaieteur News:

Considering Guyana’s poor power generation capacity and infrastructural systems, almost all of the nation’s leaders have thrown their support behind ExxonMobil laying the groundwork to bring gas to shore. But industry experts are of the firm conviction that such a venture could prove financially detrimental to Guyana, especially when one considers the nation’s weak capacity to negotiate fair deals for the country.

Making this point in particular was Tom Sanzillo, director of financial analysis at the Institute for Energy Economics and Financial Analysis (IEEFA).

He was part of a panel that included international lawyer, Melinda Janki; Chatham House Associate Fellow, Dr. Valerie Marcel and former minister, Mr. David Patterson.

These industry stakeholders participated in the end-of-year discussion on Kaieteur Radio’s programme, Guyana’s Oil and You.

During the discussions on Guyana’s proclivity to bring gas to shore in a mere four years, Sanzillo said he can certainly appreciate the nation’s desires to respond to the rising demand for electricity as well as to find a solution to the issue of power outages and high electricity costs. 

[Staff Report]

More: Gas-to-shore project, a recipe for bankruptcy—US Financial Expert

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