–stress country must have energy security, internal capacity to withstand external shocks

Guyana is advancing high-level discussions on establishing a domestic oil refinery and fertiliser plant as part of a broader strategy to strengthen national and regional energy security, President Dr Irfaan Ali said on Wednesday.

Speaking during his “Tea on the Terrace” programme, President Ali said long-term investments in a national gas plant and gas bottling facility as a part of the country’s flagship gas to energy (GTE) project will allow Guyana to build internal capacity to withstand external shocks, stabilise domestic energy prices and cut the cost of energy by up to half. This, he noted, would support more stable supplies of fertiliser, gas, and industrial and manufacturing opportunities.

The President revealed that he held talks “only yesterday” with the President of the Dominican Republic and other stakeholders to shape a forward-looking plan, describing it as an essential step in a global “learning curve” as countries reorient their systems in response to ongoing conflicts and fuel price volatility.

Dr Ali warned that fuel hikes and supply disruptions are already rippling through the global logistics system, with major providers such as FedEx, Amazon and USPS increasing fuel surcharges. He also highlighted growing pressure on petrochemical industries and consumer prices worldwide, driven in part by the scarcity of key refined products.