The Inter-American Development Bank’s rejection of the Guyana Shore Base Inc’s (GYSBI) expansion loan on the ground that new oil and gas operations won’t be funded has serious implications for this country, according to industry officials.
However, some also believe that it should be an opening for regional banks to discuss partnering to provide syndicated loans while others feel that sanctions against Russia for the war started against Ukraine and skyrocketing oil and gas prices, could be the impetus for a rethink of western countries’ position on new oil and gas investment.
As a number of business persons have signaled interest while some have started to develop shore bases, Stabroek News spoke to potential investors, banking analysts and a government official on the issue.