By Ravin Singh
A COMPLETE natural gas solution which aims to lower dependence on diesel and Heavy Fuel Oil (HFO) as a feedstock for power generation, and replace that with a less expensive and more environmentally friendly gas is to be realized in Guyana. This has been made possible through the efforts of Eric Shubert, Chief Executive Officer (CEO) of ICON LNG – an energy company, new to the Guyanese market which will be providing Liquefied natural gas (LNG).
Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4) that has been converted to liquid form for ease of storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state. It is odorless, colorless, non-toxic and non-corrosive.
Yesterday at a short ceremony at the National Park, Shubert expressed how challenging, but rewarding the move was, to introduce this product to the Guyanese market. Moves for the introduction of this type of energy to Guyana had commenced two years ago, when he came to Guyana.
The company, which was officially added to the list of energy providers currently competing in Guyana’s economic space, provides an alternative for fuel consumers who suffer routinely from swings in fuel prices and the long term environmental impact of burning fuel.
This natural gas, the CEO related, has always been a possible solution to these issues which diesel fuel give rise too. However, the problem natural gas poses when entering a new market, he said, is the lack of appropriate infrastructure at ports for receiving large volumes, and the lack of infrastructure to move the gas from the port to the consumers.
ICON though, has been able to maneuver itself in such a way, that it removes these barriers by takin the equipment cost off of customers and installing needed equipment in the markets where they operate.
Benefits incurred from this introduction, include lower cost of energy production, more environmentally friendly form of energy consumption and job creation through the company’s operations locally. Jobs according to the CEO will be in the transportation sector to unload containers and move them back and forth from the customers to the facilities, and training of engineers to install and maintain the conversion kits which allow large mining vehicles directly to LNG.
Over the next few months, the company will be installing the first conversion kits on power generating units and converting small and large vehicles. “We will continue to increase the supply of gas to Guyana as we expand our presence in Guyana and move into the additional markets” Shubert said.
Noting that energy infrastructure was the backbone of a country’s economic development, Minister within the Ministry of Public Infrastructure Annette Ferguson welcomed the initiative which she said wouldl aid in boosting the energy industry and provide a solution to lowering electricity bills.
She explained too that this concept which opens Guyana’s market to diversity is one which is aligned to Government’s plan of pushing a Green Economy agenda. “This initiative and its application could form part of an integrated strategy to ensure citizens benefit” the Minister said, adding that the mining industry will now be provided with access to cheaper fuel which will reduce the cost of production. The Agricultural sector too, she added, will benefit significantly, since they rely heavily on energy to execute their operations.
Minister of Business, Dominic Gaskin, who was also present at the short ceremony weighed in too, offering that for too long, the development of Guyana has been stymied due to constraints in energy provision. However, according to him, this initiative brings to Guyana an option of cleaner energy which supports a developmental agenda and reduces the operational cost of value added goods. This, he said, will tremendously benefit that part of the business community which solely depend on energy consumption for their operation.