Investments in an oil refinery to support gas-to-energy power plants and other energy infrastructure will help shield Guyana from global energy shocks, ensuring stable power, food security and access to essential services.
President Irfaan Ali made the remarks during his weekly “Tea on the Terrace” programme, where he said the country aims to reduce its reliance on imported fuel and refined products by building domestic capacity and gaining greater control over its energy supply.
He said long-term investments in gas facilities, including bottling plants, will allow Guyana to withstand external disruptions.
“We will have our own natural gas,” Ali said, adding that managing domestic resources could cut energy costs by half.
The President said the Government is also in renewed discussions to establish a local oil refinery and a fertiliser plant to bolster national and regional security.
Ali pointed to the global impact of the U.S.-Israeli war involving Iran, warning that disruptions to supply chains have intensified instability in international markets.
He noted that the closure of the Strait of Hormuz — through which about 21 per cent of global energy supplies pass — has worsened the crisis.
“We are operating in a period of global history when the largest supply disruption has taken place in the global market,” he said.
Ali added that the crisis underscores the need to rethink energy strategies, including a mix of renewable and fossil fuel sources.
