PEOPLE’S Progressive Party (PPP) General Secretary and Guyana’s Vice-President Dr. Bharrat Jagdeo has reaffirmed that the government remains steadfast in its goal to convert the nation’s associated gas to liquified natural gas (LNG).

He told reporters this during a press conference on Thursday at Freedom House, Robb Street.

Dr. Jagdeo’s comments come on the heels of ExxonMobil’s Chief, Alistair Routledge’s recent indication that producing LNG is “not a priority.”

The Vice-President said that the government is actively seeking private investors to partner with ExxonMobil in a tripartite arrangement, stating: “We want to make sure that the gas is utilised by Exxon. If they don’t want to move forward with the project, then we will explore other contractors who are interested.”

The Vice-President had previously stated: “So we made it clear at the beginning that when this project is being examined by all the parties that we have an open mind now as to the use of the gas that the most feasible use should be pursued,” adding: “Anything that will monetise the gas, either for industry or for the people, will be a priority for us.”

He then said that the government has not taken this option off of the table, noting that LNG is one of those “very feasible options” and that could be done faster because it can be done through a floating platform.

In January 2024, President Dr. Mohamed Irfaan Ali announced the government’s plans to accelerate the monetisation of the country’s gas resources estimated at 17 trillion cubic feet (tcf).

The government has since received Expressions of Interest (EIOs) for a model that will help Guyana monetise its gas assets.

As Guyana continues to develop its oil and gas sector, the outcome of this gas monetisation project will be watched closely, with the potential to shape the country’s economic future for decades to come.