Gas-to-energy project to leverage other industries to pursue value-added production -Minister Bharrat
The highly anticipated gas-to-energy project will give other industries the leverage to venture into value-added production, as it will reduce the cost of energy.
Minister of Natural Resources, Vickram Bharrat, MP, made this statement on Sunday.
The minister had accompanied His Excellency, Dr. Mohamed Irfaan Ali to Barama Company Limited’s 30th anniversary celebration at Land of Canaan, East Bank Demerara.
“Barama basically today, is answering the call made by our government, answering the call to value add. For too long we have been exporting raw materials. For too long we have not been getting the real benefits of our natural resources.
We need to move to a stage where we can export value- added products and not raw materials anymore. Instead of exporting logs, let’s export plywood, lumber, wood products.”
Minister Bharrat said it is important for the non-oil sectors, such as forestry, mining, tourism and agriculture, to be given ample attention.
“If we look at other oil producing countries all around us, like Trinidad and others, they made the same mistake. They made the same mistake of what we call Dutch Disease, that because the oil and gas sector is so lucrative, and it is so revenue driven, that many governments around the world would have forsaken or neglected the traditional productive sectors. And that is something that we would have learned from and we will ensure that we don’t make that mistake as we move along as an oil producing nation.”
By reducing the cost of power, the gas-to-energy project, slated to be operationalised in 2024, will make Guyana a more attractive business destination, and put more disposable income into the pockets of ordinary families.
Minister Bharrat said it is the single most transformational project, which will positively impact the life of every Guyanese.
In addition to the gas-to-energy project, the government has other energy projects in the pipeline. Together, they will deliver 500 Megawatts of power by the end of the PPP/C Government’s first term in office.