“…the decision by the EPA to grant the permit to Esso Guyana was contrary to law and was improper.”[1]
The letter states,
“Eximbank should not provide funding for any project which is based on a decision (the grant of a permit) that is ‘contrary to law’ Eximbank should respect the rule of law in Guyana.”
The letter was sent to a number of Eximbank staff on Friday 12th January and to the President of Eximbank, Reta Jo Lewis.
According to Ms Deane-Hughes,
“The rule of law ought to take priority over government plans for this gas project and Eximbank ought not to support anything that is contrary to law. All companies & partnerships operating in Guyana, including Stabroek Block Partners, need to adhere to & follow the laws of our country. Moreso in debut unprecedented transformational & transformative projects”
Ms Radzik pointed out that, “The report released on 4th October 2023 by the independent global think tank, Institute for Energy Economics and Financial concluded that the Guyana Gas to Energy Project is unnecessary and financially unsustainable. The decision to do the gas project appears to be completely irrational and unjustifiable. If that is the case, then the entire decision to do the gas project is unlawful.”
Key conclusions from the report[2] are:
· ExxonMobil would gain the most from the Gas to Energy Project, through profits from pipeline construction, lending money to Guyana, and selling natural gas.
· Solar would cost less, reduce costs for ratepayers, generate more local jobs and put Guyana on a path toward meeting its climate goals of 100% renewable energy.
