PRIME Minister, Brigadier (Ret’d) Mark Phillips has affirmed that the monumental gas-to-energy project which will aim to slash electricity costs in half, is on track with its deadline.

The PM on Monday shared this information during his end-of-year press conference which he used to provided updates on projects undertaken by his office and the agencies under its purview.

When asked whether the project is on track with its deadline, PM Phillips noted that the simple answer to the question was yes.

However, in providing further details, he indicated, “The third quarter, I’m advised [of] 2025 we start evacuating power from the gas-to-energy site.”

He went on to add that a lot of the equipment is in the country already while some are on the way.

PM Phillips said that it is just a matter of putting everything together and reiterated, “I’m advised that the third quarter of 2025 we should start receiving electricity from that.”

The gas-to-energy project has been touted as a major milestone in the country’s development.

Just around two weeks ago, Vice President Dr Bharrat Jagdeo noted that the initiative would deliver enormous financial savings and energy benefits to citizens once completed.

He was quoted as saying, “When that project is completed—and it will be completed—it will save us, the consumers in Guyana, 250 million U.S. dollars per year.”
These anticipated savings would stem from a major reduction in electricity rates with the price of electricity set to reduce from $0.22 per kilowatt hour to $0.11 per kilowatt hour, halving the cost.

This substantial drop in rates is expected to alleviate financial pressures on both households and businesses. The reduction is expected to provide a direct economic benefit, boosting the financial well-being of Guyanese citizens by lowering their utility bills.

This measure could have a ripple effect, stimulating greater economic activity and improving overall living standards.

The benefits of this project go beyond cheaper electricity. It was highlighted that there could be additional revenue potential from gas liquids extracted during the process.

This, the Vice President had said spawn byproducts like cooking gas could generate some $250 million annually if sold at current market price.

The pipeline installation for the project was completed in 2024 with the government expecting the integrated gas processing facility to be completed by the fourth quarter of 2025 while partial start-up is planned for earlier in the year.