LatAmOil: Guyana says GTP project is attracting strong interest

The Guyanese government’s request for expressions of interest (EoIs) in a $900mn gas-to-power (GTP) project is attracting strong interest, according to Natural Resources Minister Vickram Bharrat.

In an interview with OilNOW.gy, Bharrat said the EoI had drawn responses from more than 30 potential investors since July. He did not name any of the firms that might submit offers for the contract but said potential bidders included companies from China, Europe, the US and nearby countries.

Additionally, he noted that several regional companies were looking to team up with Guyanese firms for the GTP project, which will use associated gas from oilfields at the offshore Stabroek block, operated by ExxonMobil (US), to generate electricity.

Bharrat also defended Georgetown’s move to raise the estimated cost of the GTP into the upper end of the originally projected range of $600-900mn. “There was a lot of talk by the political opposition about the cost of the project moving from $600mn to $900mn, but the scales being looked at are different,” he commented.