Guyana is moving full speed ahead with monetizing its natural gasses and, already, the company, Fulcrum LNG Inc., is being considered as a possible partner to achieve this goal, President Dr. Irfaan Ali disclosed to reporters on Thursday, June 20, during a press conference at State House in Georgetown, his official residence, The Guyana Chronicle reported on Sunday, June 23.
The U.S.-based energy company was selected from among 17 proposals submitted.
“That company with the government of Guyana and Exxon as partners will now have to have discussions and we will now have to, together, arrive at a model and a plan as to how we’ll advance this major gas development in our country,” the president said.
For the government of Guyana, “the technical team has been assembled,” the president explained.
“We have identified a technical team to work with the stakeholders in coming up with the model and to negotiate an agreement and look at the viability – technically and financially – of the project,” he said.
Notably, the government has made it clear that it has a clear strategy for advancing investment in gas development and, earlier this year, the government launched the Request For Proposals (RFPs) for the designing, financing, construction and operation of the required gas infrastructure.
According to the RFP, the requirements include:
- The developer’s capability and credibility to execute such a project
- Clear written agreements among the parties, and if a consortium, evidence of consortium agreement for this project
- The site plan for the project
- A summarized and detailed project schedule
- The project costs
- The project structure diagram
- A business plan
- A list of legal agreements
- The proposed capital structure.