WASHINGTON, May 2, CMC – Guyana has received the Export-Import Bank of the United States (US EXIM) “Deal of the Year” award for its gas-to-energy (GtE) project.
The presentation was made on Thursday during the bank’s 2025 annual conference.
In a statement, the US EXIM Bank said the GtE project significantly supports US geo-economic and political objectives while advancing critical energy infrastructure in the Western Hemisphere.
EXIM’s acting President and Chairman Jim Cruse, noted that it is a strategically important energy project, upholds the Bank’s priorities and charter mandates, while supporting more than 1,000 jobs across the country.
Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr Ashni Singh, said Guyana will value and cherish the award for several reasons including the fact that the project reflects one of the more complex engineering projects ever undertaken in the country’s history.
The 250 km high-pressure pipeline is being built by the US oil and gas company, ExxonMobil, starting a mile deep in the ocean with a 300 MW combined cycle power plant and NGL plant, under construction by Lindsayca/CH4 Systems. The project also calls for the establishment of 230 KV transmission lines with substations, and a state-of-the-art Control Centre to dispatch the power.
Singh said that from the engineering and technical perspectives, the GtE project will benefit tremendously from the involvement of capable and experienced US partners and technical counterparts who have vast experience in delivering world-class engineering and construction solutions.
He said this project is a truly transformative one that affords Guyana the opportunity to double the country’s electricity generating capacity.
“When completed, it will enable us to reduce electricity tariffs to all consumers by 50 percent, bringing obvious benefits to households as well as to the productive sector, especially those that are heavily dependent on electricity, such as industrial and manufacturing activities.”
Singh said that the project will also “significantly reduce our carbon footprint per KWH, using natural gas as a transition fuel, allowing Guyana to switch from heavy fuel oils to natural gas.”
He noted that, as the first project Guyana will be doing with US EXIM it stands as a fitting testimony to the enduring and growing strength of the relationship between the United States of America and Guyana.
“Historically, our two countries have shared a strong relationship rooted in our shared values, foremost amongst which are our commitment to democracy and the rule of law, and our recognition of the role of the private sector, and private investment and trade, in generating economic growth and prosperity for all,”.
Singh expressed his deep appreciation for the recognition given to the project that Guyana is building, reiterating the importance of the project being completed in a timely manner so that all of the evident advantages that redound from it can be realised in the shortest possible time.
“I wish to signal also our intention to advance discussions with EXIM on a number of other transactions, including projects that are critical to port security and increased trade, as well as food security which continues to be a priority for Guyana, the Caribbean, and our entire hemisphere.,” Singh said.
Representatives of the companies involved in the project also spoke at the event including Nelson Drake, Senior Vice President of Business Development for Lindsayca, Juan Bellosta, CEO of CH4 Systems and John Colling, Vice-President of ExxonMobil Guyana. Loop News
