GtE project to drive business growth, financial sustainability – Indar

The highly anticipated US$759 million Gas-to-Energy (GtE) project is poised to transform Guyana’s economic landscape, delivering unprecedented benefits for businesses and individuals alike.
Minister within the Public Works Minister, Deodat Indar, has emphasised the transformative impact of the initiative, highlighting its potential to drastically reduce energy costs and drive economic growth.
Speaking on the project’s broader implications, Indar revealed that energy costs will be slashed by 50 percent, creating a seismic shift in operational expenses for businesses of all sizes. This reduction, he noted, will not only alleviate financial pressure on existing businesses but also create a fertile ground for new enterprises to emerge.
On this point, Indar stressed that this monumental cost reduction will revolutionize the business environment, incentivizing entrepreneurs to explore ventures that were previously financially unviable.

“So, upon power being evacuated into the system, at that point, we will see the reduction of the tariff that customers and businesses pay… A business paying 100,000, they are going to pay 50 grand. A big company paying $1 million a month, they are going to pay $500,000 a month. Just think about what that means for businesses, it will revolutionize businesses. It will create the incentive for more businesses to get in operation. Things that we never did in the past will now become financially viable,” the minister explained.
The GtE Project consists of five key components: laying the pipeline to bring the gas onshore – which has been completed by ExxonMobil, construction of the 300-megawatt (MW) Combined Cycle Power Plant and a Natural Gas Liquids (NGL) facility at Wales, West Bank Demerara (WBD), installing transmission lines, building a new control centre and upgrading the aged power distribution system.
The contractor Lindsayca CH4 Guyana Inc. (LNDCH4-Guyana) completed soil stabilisation works as well as the driving of some 140,000 metres of piles.
Other key accomplishments of the GtE Project include the arrival of two state-of-the-art gas turbines from Sweden in October 2024. These turbines, capable of generating 300 MW of electricity, are set to revolutionise Guyana’s energy landscape by providing cleaner power for decades to come.
“The site stabilization was completed, and so piling and so was done. So that is where that project is. That project has to be delivered in 2025 so that the simple cycle comes into play. The simple cycle is around 210 megawatts thereabout to evacuate into the grid so that the 230,000 customers on the Demerara integrated system, which is the grid, will get that power. That power plant will push power into the Demerara-Berbice integrated system, the DBIS as they call it,” Indar said.
According to Indar, energy-intensive industries such as agricultural processing, poultry storage, and ironmongery stand to benefit immensely.
Reduced operational costs he highlighted will allow companies to expand, invest in new technologies, and improve efficiency.
“So just imagine companies that want to operate in that sector, whether it’s processing for milk, fruits, whatever, coconut water, whatever agricultural processes, whatever you want to do, metal, ironmongery, all of those things, they drink power. Those businesses will now expand. Warehousing, cold storage warehousing, you know, all of those things now can come into people who do a lot of poultry, as Minister Edghill was talking about earlier. Poultry, storage for your poultry. Before, you know, you distribute it to the cold chain in the supermarkets, so new supermarket, freezer, that will revolutionize the entire country. Power and the grid and that is what the entire Office of the Prime Minister is looking at,” he added.
The scope of Guyana’s GtE Project consists of the construction of 225 kilometres of pipeline from the Liza field in the Stabroek Block offshore Guyana, where Exxon and its partners are currently producing oil.
It features approximately 200 kilometres of a subsea pipeline offshore that would run from Liza Destiny and Liza Unity Floating, Production, Storage, And Offloading (FPSO) vessels in the Stabroek Block to the shore. Upon landing on the West Coast Demerara (WCD) shore, the pipeline would continue for approximately 25 kilometres to the LNG plant at Wales, West Bank Demerara (WBD).
Earlier in the year, Government signed the US$527 million loan agreement with the United States (US) Export-Import (EXIM) Bank for the advancement of the transformative GtE Project.
Guyana will start repaying this loan from 2031, over a span of 15 years.
This was confirmed by Vice President Bharrat Jagdeo, during a recent press conference, where he expressed satisfaction with the approval of the loan and also revealed that the interest rate for the loan was four per cent.