“In ten years from now, Guyana will not be the same,” Minister of Natural Resources Vickram Bharrat, proclaimed yesterday during the opening of the new Shell Gas Station located at Enmore, East Coast Demerara.
The minister, who is now at the centre of a mushrooming scandal over the auditing of ExxonMobil’s expenses, elaborated on the groundbreaking carbon credits deal that Guyana has secured, emphasising the immense benefits it holds for both the hinterland and coastland. “Guyana is arguably the only country in the world that has signed a carbon credit deal on a jurisdictional level, set to bring in over US$750 million”, he asserted.
He said that the government, in a proactive move, has allocated 15 per cent of the US$750 million to bridge the gap between the hinterland and the coastland. “We have communities that have received $35 million, $24 million, or $18 million, depending on their population.”, he said.
Bharrat also highlighted the global efforts to reduce carbon dioxide emissions.
“Sometimes it’s a bit contradictory when we mention Guyana as an oil-producing country, while simultaneously emphasising our commitment to preserving and protecting the environment”, he noted.
He further emphasised Guyana’s unique position in the world, being one of the few countries that can produce oil, open service stations, and maintain high environmental credentials, positioning itself as a carbon-negative nation. “We possess the second-highest forest coverage globally, after Suriname, and we are perhaps the only oil-producing country that can proudly claim to be a carbon sink”, he said.
During the service station’s opening, he provided updates on the gas-to-energy project, describing it as potentially the most transformative venture in Guyana’s history.
“This project at Wales, where we are establishing pipelines from the Stabroek Block located 100 miles offshore into the Wales area, will likely be the single most transformational project we’ve seen in our country’s history”, he enthused.
He explained that the pipeline would daily pump gas to generate electricity, while revealing that the contract for the power plant has already been awarded and is currently under construction, alongside the NGL plant.
“The pipeline is being brought to shore by Exxon. It’s no longer a mere dream we’re trying to sell or a campaign gimmick for votes. It’s a project in active development”, he declared.
