Fulcrum LNG selected to construct vital infrastructure for Wales gas-to-shore project

GUYANA’S economy is said to have a new economic player with the introduction of cooking gas as an export after completion of the Wales gas-to-shore project, according to Vice President Dr Bharrat Jagdeo during his press conference on Wednesday.
In relation to the Wales gas-to-shore project, the Vice President highlighted that it will contribute to Guyana’s export of cooking gas.

“When the gas-to-energy project is completed, we will become an exporter of cooking gas; now we import all of our cooking gas,” he said.
The Vice President emphasised the project’s far-reaching impacts, particularly on electricity costs, stating that, “The price will plummet and the cost of electricity will become more stable. The price will be cut by 50 per cent, so that the price of people’s electricity will go down.”

The considerable decline in energy expenditures is projected to bring advantages to households and businesses across Guyana.
In the previous year, the Vice President offered a more comprehensive analysis of the economic advantages associated with the Wales gas-to-shore project. It was disclosed that the sale of cooking gas alone in Guyana has the potential to generate an annual income ranging from $70 million to $100 million.

“If you look at the cooking gas, we will get, from drying the gas, and creating lean gas, we will be able to sell back and get the money,” Jagdeo explained.
This revenue stream is in addition to the expected savings on fuel imports, reduction in energy costs, and benefits to the manufacturing sector.
In addition to these advancements, Fulcrum LNG, an oil and gas company, revealed on Wednesday that it has been chosen by the Government of Guyana to oversee the design, financing, construction, and operation of essential gas infrastructure. The objective of this project is to offer gas-monetisation solutions and facilitate the advancement of upstream gas developments in Guyana.

Jesus Bronchalo, CEO of Fulcrum LNG, expressed enthusiasm about the project, sharing that, “We are honoured to be selected to undertake this strategic energy infrastructure project. This opportunity aligns perfectly with our mission to deliver innovative, reliable, and sustainable energy solutions to develop gas resources.”

The Fulcrum LNG project will involve the development of state-of-the-art gas-processing and modular, scalable facilities to produce LNG and NGLs/LPGs for both domestic use and for export to regional and global markets. This infrastructure is designed to provide upstream developers with additional options for monetising their gas resources, potentially increasing the economic viability of current and future gas discoveries in the Guyanese basin.
The gas-to-shore project underscores Guyana’s commitment to safely and efficiently developing its gas resources. These developments are poised to transform Guyana’s natural gas sector, enhance energy security, and significantly contribute to the country’s economic growth.