Guyana among significant players in energy market – T&T PM Rowley

Prime Minister of the Republic of Trinidad and Tobago, Dr Keith Rowley, underscored that the Caribbean energy economies which include Guyana, Trinidad and Tobago, and Suriname are significant players in the energy market and will not shy away from beneficial opportunities and the pursuit of better security and resilience, to foster further expansion.

PM Rowley made the remarks at the opening ceremony of the Guyana Energy Conference and Supply Chain Expo, at the Marriott Hotel, Kingston, Georgetown, on Monday.

The global oil and gas sector has been instrumental in providing the energy required for significant developments in the global economy, as it continues to play an instrumental role in the energy transition by providing the affordable and reliable energy needed to fuel growth.

In this regard, Guyana has embarked on a comprehensive national plan to fuel economic growth while decreasing the nation’s reliance on imported fossil fuels and ensuring that everyone has fair and inexpensive access to clean and renewable energy.

“Energy is at the heart of sustainable economic development… Transforming the energy system to meet the increasing energy demand while also lowering global emissions will require an unprecedented collaboration across all sectors and countries…,” the prime minister explained.

Guyana has implemented several key projects including the upgrades to the national grid, the 300-megawatt power plant, Amaila Falls Hydropower Project, and the Solar Home Systems project to bridge the energy divide between the coast and the hinterland.

This is also demonstrated in Guyana’s energy transformation which is supported by stringent regulations under its Low Carbon Development Strategy (LCDS) 2030, which aims to advance cutting-edge, clean energy solutions utilising natural resources.

Guyana’s energy sector has been instrumental in ensuring that affordable and reliable energy is provided, as it continues to position itself as a leader in food, energy and climate security.

Meanwhile, Dr Rowley explained that the Caribbean region is continuously capitalising on its resources, including human and mechanical, to guarantee the alignment of energy and industrial transformation to a collaborative economic strategy.

“Only by working together can we obtain our objectives of fostering productive and resilient economies…With the emergence of our region as a significant player in the hydrocarbon industry, we are presented with a valuable chance to proactively utilise our combined knowledge and expertise to maximise prospects,” the prime minister highlighted.

He commended the Guyana for bringing together key local, regional, and international energy players, stakeholders, and investors to the conference to foster collaborative endeavours in the oil and gas industry.

The exercise continues until February 22 at the Marriott Hotel in Kingston, Georgetown, under the theme ‘Fuelling Transformation and Modernisation.’