During a recent State House event, President Ali boasted about the immense benefits that the Government’s Gas to Energy Project will bring to the citizens of Guyana, South America. The President explained how the Gas to Energy Project will reduce cost of living for citizens of Guyana, saving them collectively an estimated GY$27 billion which can be used for other commodities or savings.
According to the President, the Gas to Energy Project will slash the cost of electricity by 50%. At present, the estimated 220,000 households in Guyana spend an estimated $40 billion per year on electricity. With the advent of the Gas to Energy Project, that cost will be reduced to $20 billion, saving the citizens collectively 20 billion annually.
In addition, the Gas to Energy Project will save citizens of Guyana an estimated GY$7 billion annually by reducing the cost of cooking gas by an estimated 70%.
“Initially the pipeline will transport fifty million standard cubic feet of gas per day. This has the ability to power a 300 mega-watt powerplant, supply an NGL facility to deliver at least 3,500 barrels of liquid, that is cooking gas, plain man language.”President Irfaan Ali
Further, President Ali said that the Guyana Power and Light will be saving US$11 million in foreign currency annually.
The Gas to Energy Project is an integral part of the government’s Low Carbon Development Strategy 2030. The procurement process for the project has already begun.