Guyana’s flagship Gas-to-Energy (GtE) project has earned international acclaim, winning the “Deal of the Year” award from the Export-Import Bank of the United States (US EXIM Bank). The award, announced this week in Washington, recognizes the GtE project as a “large-scale, innovative and sustainable energy venture” that is poised to deliver sweeping socio-economic benefits in Guyana. It is a prestigious nod of confidence from the U.S., which is co-funding the project via a loan, and underscores the growing strength of U.S.–Guyana relations in the energy sector
The Gas-to-Energy project is a cornerstone of the PPP/C government’s plans to cut electricity costs and emissions by harnessing natural gas from offshore oil fields. A joint venture of two firms, Lindsayca (USA) and CH4 (Trinidad), is building the integrated plant and pipeline. US EXIM’s acting President and Chairman, James Cruse, praised the project as strategically significant: it advances critical infrastructure in the Western Hemisphere while supporting U.S. geo-economic objectives. The award jury highlighted that the consortium met EXIM’s highest standards for quality, safety, and environmental and social responsibility during project development. Winners of EXIM awards must “demonstrate and maintain” excellent QHSE (Quality, Health, Safety, Environment) and corporate social responsibility practices, which the GtE project did through its clean and community-conscious design.
Receiving the award on Guyana’s behalf, Senior Finance Minister Dr. Ashni Singh noted the honor “testifies to the enduring and growing strength of the relationship” between Guyana and the U.S. He also signaled Guyana’s intent to pursue further collaborations with EXIM Bank on other priority projects – including port security upgrades, increased trade capacity, and food security initiatives. The GtE project itself, targeted for completion in 2024, will channel natural gas from the Stabroek Block ashore to fuel a 300 MW power plant at Wales, West Bank Demerara. Once online, it is expected to slash Guyana’s electricity tariffs by 50% or more and finally stabilize the national grid with cleaner, cheaper power.
The EXIM “Deal of the Year” award adds momentum to the project amid some domestic criticism and concerns over financing. Government officials say it validates that the gas project is not only economically sound but also aligned with global standards for sustainable development. With construction underway, Guyana’s Gas-to-Energy dream just got a credible thumbs-up on the world stage – a sign that the country’s bold energy transition plan is being taken seriously by international partners.
