MOFA charged with accelerating investment in oil and gas

DPI, Guyana, Friday, December 7, 2018

The Ministry of Foreign Affairs is leading efforts to find international partners to collaborate with Guyana in the development of its oil and gas industry.

Speaking on the final day of budget debates in the National Assembly today, Minister of Foreign Affairs, Carl Greenidge, said his ministry has been tasked with accelerating the process of integrating elements of the emerging petroleum and gas sector into the overall architecture of the foreign policy of the nation.

Particular emphasis will be on finding partners to help Guyana bridge the gap in physical and socio-economic infrastructure.

“Most of our traditional bilateral partners have shown little interest in rendering assistance in this context, and by that, I mean the infrastructure funding and so we have to turn to non-traditional partners as well as supportive bilateral and other agencies, private sectors and NGOs to secure funding for that aspect of infrastructure,” Minister Greenidge said.

Minister Greenidge noted that his ministry has been collaborating with a range of agencies who provide assistance to developing countries to plan and implement projects in the oil and gas industry.

“We’re also working with JICA [Japan International Cooperation Agency] of Japan which is funding pre-feasibility studies and oil and gas master plan in relation to downstream activities in Guyana,” the Minister highlighted.

The Ministry of Foreign Affairs will also be ensuring Guyana joins the relevant petro-diplomacy organization and determine new institutions that may need to be created locally to advance foreign policy.

Tiffny Rhodius.

Image: Keno George.