Home Letters Natural gas industry will impact Guyana’s economy
Speaking from the point of view of the Trinidad experience with the natural gas industry as regards revenue generation and job creation, I would like to place a lot of emphasis on saying that the development of such an industry would greatly benefit the Guyana economy, and would be most important for cash flow stabilisation, especially when there is volatility and huge swings in the price of crude oil, which is a proven historical statistic!
This means that, besides generating cheap electricity and cooking gas, if a number of industries are developed from downstream natural gas, it would create not only well-paying jobs, but also a stable revenue cash flow, which would be very important, as Guyana would not have to depend only on the price of crude oil, which has proven to be very fickle at times and depends on complex geopolitical factors and decisions by the swing producers, such as Saudi Arabia and Russia.
Natural gas is a great resource, and is very safe and environmentally friendly.
The net effect of downstream natural gas usage would have a powerful invigorating effect, with many beneficial multiplier effects on the Guyana economy.