ECNETNews, February 19, 2025: Exxon Mobil, the leading U.S. oil company, has announced a strategic expansion of natural gas production and supply in Guyana, following the government’s call for increased gas to fuel onshore energy and petrochemical initiatives.
This initiative, unveiled during the Guyana Energy Conference in Georgetown, is part of the Wales Gas Vision, which aims to bolster industrial growth via a recently completed $1 billion pipeline. Alistair Routledge, head of Exxon’s operations in Guyana, detailed the project that will provide gas for power generation and petrochemical production.
The Guyana government will benefit from a portion of the gas extracted from Exxon’s Stabroek Block, while a new offshore gas processing and liquefied natural gas (LNG) facility is set to be developed by Fulcrum LNG. According to Guyana’s Energy Minister, Vickram Bharrat, this new facility will facilitate LNG exports and supply gas to the Berbice region for fertilizer and alumina production.
Although specific investment figures haven’t been released, Bharrat highlighted that Guyana possesses ample gas resources for commercial endeavors. A national gas strategy is set to launch this year as the country progresses towards a more diversified energy landscape.
Exxon, in collaboration with Hess Corporation and China’s CNOOC, is anticipated to increase gas production through forthcoming projects, including Longtail, which has the potential to yield 1.2 billion cubic feet per day (bcfd) of gas. A final investment decision on this project is projected for 2026.
Routledge emphasized Exxon’s dedication to this endeavor, expressing readiness to deliver gas to shore. Furthermore, the company’s fourth floating oil production facility is on schedule to commence operations in the third quarter of 2025.
As natural gas becomes a pivotal element of Guyana’s energy strategy, these advancements are poised to stimulate economic growth, enhance industrial capabilities, and position the nation as a regional energy leader.
