Press Release: World needs balanced, responsible energy future – President Ali to OTC 2026

His Excellency President Dr Irfaan Ali said that the world must adopt a balanced approach to global energy need. He highlighted critical realities for the energy sector, including a widening energy gap and the scale and distribution of investment required to address it.

During his feature address at the opening of the Offshore Technology Conference (OTC) 2026, earlier today, in Houston, Texas, the President underscored that the transformation of the global energy system is not simply a technological challenge but a fundamentally financial one that goes beyond substituting fossil fuels with renewable energy.

He said that while renewables are expanding, they are not sufficient to meet demand, and that fossil fuels continue to play a central role in meeting baseload demand and supporting industrial development.

The President highlighted that of the total investment globally in 2025, approximately 65.2% was directed towards clean energy, while 34.8% was invested in fossil fuels.

The Head of State explained that although global investment has substantially increased, it remains insufficient to meet the scale of the challenge of aligning with global climate targets, especially the goal of limiting global warming to 1.5 degrees.

To achieve this, the President said, large economies will have to increase annual investment significantly.

“This imbalance has profound implications. The regions with the fastest growing energy demand are not the regions receiving the largest share of investment. The Global South, where demand is rising most rapidly, remains highly underfunded.”

GUYANA AS A MODEL

The President reminded that Guyana’s role in the global energy and climate landscape is distinctive, underscoring that while the country is one of the fastest growing oil producers in the world, it is also one of the most significant net carbon sinks globally.

He reminded that Guyana has maintained one of the lowest deforestation rates in the world and has a forest cover of approximately 85% of its landmass that sequesters more than 150m tonnes of carbon annually.

“We care about the world, and we are demonstrating it.”

The President added that developments in Guyana are underlined by a Low Carbon Development Strategy (LCDS) 2030 that provides a framework for integrating environmental stewardship with national development.

“Guyana demonstrates that energy production, Climate Leadership and biodiversity protection are not mutually exclusive. They are mutually reinforcing. We are showing that a country can, at the same time, produce oil, maintain a net carbon sink, expand renewable energy and protect its natural environment. We take pride in that—it is the responsible thing to do. We urge others to join us in this endeavour for all mankind and for our own homeland and this planet Earth.”

The President added that it is within the context of global challenges and opportunities that Guyana has defined its energy strategy.

“We approach this moment with clarity and with discipline. We have rejected the false choice between economic development and environmental stewardship. We’ve also rejected the notion that the energy transition can be pursued through a single pathway. Instead, we have adopted a deliberate and integrated, dual track approach.”

He stated that these objectives are not mutually exclusive and, with careful management, reinforce each other.

“Guyana’s energy strategy is not a single project or a single sector. It is a system wide transformation. Over the past five years, we have moved from policy to execution. Our gas-to-energy project is a cornerstone of this effort.”

President Ali noted the expansive investment in the national grid, affordable electricity, improved generation, improved reliability and a significantly lowered carbon-intense system are cornerstones of Guyana’s energy plans.

In addition to developing its own infrastructure and energy mix, the President also noted that Guyana is actively engaging bilateral partners such as Brazil, Suriname and French Guiana to explore the development of mega-scale regional power infrastructure and interconnection systems.

This, he said, would lead to regional energy integration that offers improved energy security, greater efficiency, expanded opportunities for economic cooperation, redundancy and an energy system of the future that is not isolated, but interconnected.

President Ali said Guyana’s strategy is clear.

“We’re using our hydrocarbon resources to finance the future. We are building isolated projects. We are building a diversified, resilient and modern energy ecosystem. We are not delaying transition. We are investing in the balance of the future.“

The global energy balance, the President explained, is not a simple shift from one system to another, but a complex transformation shaped by rising demand, constraints, supply, uneven investment, emerging dependency, incentives and technology, geopolitical realities and rising new frontiers.

He added that the world requires reliable and affordable energy that is produced with the least impact on the environment and the greatest return on the dollar.

“And, I say most humbly that Guyana fits the bill in all of these criteria, any investment in energy in Guyana is an investment in a sustainable future and a balanced framework that the world needs.”