The Guyana Business Journal in collaboration with the Caribbean Policy Consortium recently hosted a webinar titled, “Powering the Future: Guyana’s Energy Landscape and the Gas-to-Energy (GtE) Project,” a release from the Journal stated yesterday.
The event saw the attendance of experts from academia, industry, and policy circles, including Anthony Bryan, Milton Chaves, David Goldwyn, and Ulric Trotz, who gathered virtually to discuss Guyana’s emerging role as a regional leader in energy and sustainable development.
Co-host of the webinar, Dr Terrence Blackman, spoke of Guyana being at a “pivotal moment” as it seeks to harness its newfound oil and gas wealth to drive sustainable economic growth. He added, “The country faces both significant opportunities and challenges in managing this transition responsibly.”
According to the release, key takeaways from the webinar include:
Balancing economic growth and environmental sustainability – Guyana is committed to a holistic approach to developing its energy resources, aligning them with its low-carbon development strategy. Experts emphasized the importance of conducting thorough environmental and social impact assessments to mitigate risks associated with oil and gas operations, pipeline construction, and power generation infrastructure.
Diversifying the energy mix – While fossil fuels remain a key component, Guyana is advancing renewable energy projects, including solar, hydropower, and biomass. The country aims to generate 70% of its electricity from renewables by 2030, reducing its reliance on imported fuels and lowering carbon emissions.
Investing in human capital – Developing a skilled local workforce is essential for Guyana’s energy transformation. The webinar highlighted ongoing partnerships between Guyanese institutions and international organizations to expand training and education programs tailored to the energy sector’s evolving needs.
Gas-to-Energy Project: Enabling development – Guyana’s Gas-to-Energy (GtE) Project, which will utilize associated gas from offshore oil production, is expected to double the country’s power generation capacity. This project promises a reliable, lower-cost electricity supply, making it a critical enabler for Guyana’s broader development goals.
Dr. Blackman posited that Guyana is well-positioned to become a regional energy and transition leader, as it leverages its oil and gas resources to finance sustainable development while diversifying its energy mix. However, he noted that the country must navigate complex challenges to ensure that the benefits of its newfound wealth are “equitably distributed and that environmental impacts are carefully managed,” the release added.
