Guyana’s oil production is on track to surpass one million barrels per day by the end of 2026, while the country plans to develop its natural gas resources for electricity generation, industrial development and lower energy costs.
Minister of Natural Resources Vickram Bharrat told the Department of Public Information (DPI) on Wednesday that oil production is already exceeding 900,000 barrels per day.
He said the focus is increasingly shifting to monetising Guyana’s gas resources and expanding the economic benefits.
“The shift now is to ensure that we produce and monetize our gas resources,” Minister Bharrat said.
At Wales, the existing 12-inch gas pipeline is designed to transport up to 120 million cubic feet of gas per day.
According to the minister, this supply will support two power plants with a combined generation capacity of 600 megawatts, while also providing gas for other developments, including a proposed fertiliser plant and data centre.
“We will have a total of 600 megawatts of power being generated with gas in the Wales area and some other small developments,” he explained.
The development is expected to broaden the impact of Guyana’s natural gas resources beyond electricity generation.
Minister Bharrat said a second, significantly larger gas pipeline is planned for the Berbice development area, where opportunities are being pursued in petrochemicals, natural gas liquids facilities, and data centres.
He also pointed to the Wales project’s potential to produce propane through the natural gas liquids facility, with a gas bottling plant now moving towards construction.
The minister said this component is intended to give households access to lower-cost cooking gas.
“This project in Wales will not only benefit us in terms of electricity, but it will benefit us also when it comes to cooking gas or propane, cheaper cooking gas,” he said.
He said the scale of oil production has now created the platform for the next stage of development, with gas emerging as a major area of focus.
“So gas is the next development, a very serious development,” the minister said, adding that the government is now placing significant attention on the resource.
The wider Gas to Energy project is also advancing, with the first turbine expected to provide approximately 57 megawatts to the national grid by the end of 2026, while Phase One is designed to deliver 300 megawatts.
These developments are part of Guyana’s broader strategy to extract greater economic value from its natural resources while expanding domestic energy capacity and creating new opportunities for industrial investment.
DPI
