Guyana gas projects pique Chinese interest
Five Chinese state-owned contractors are among 12 that have been pre-qualified to bid for a project to develop a natural gas-fired power plant and NGLs facility in Guyana.
Associated gas shipped by pipeline from the deepwater Stabroek block operated by ExxonMobil would supply the 300MW power station and a 60mn cf/d (1.7mn m³/d) liquids facility whose capacity would be doubled in a second phase.
The pre-qualified Chinese participants include China Machinery Engineering, Power China International, Sepco, China Energy and Wison Offshore and Marine, Guyana's natural resources ministry said today.
The others are US contractors Amerapex, CH4 and Lindsayca, Spain's Tecnicas Reunidas, Brazil's Construtora Queiroz Galvao and Trinidad and Tobago's state-owned gas company NGC and engineering firm Apan Energy.
The government is projecting construction to start in the third quarter of 2022, with commissioning in fourth quarter 2024. It has not indicated estimated investment or a schedule for naming a preferred bidder.
The power plant will supply state-owned power utility GPL and replace its current 120MW heavy oil and diesel-fired generating units.
The gas plans are central to the government's 500MW target for installed generating capacity by 2026, including intermittent renewable projects that would require thermoelectric back-up.
The NGLs plant should be capable of producing propane and butane, with five days of storage capacity plus truck or river-loading facilities, the ministry said.
The government and ExxonMobil are developing a $900mn 12-inch gas pipeline that will run 225km (140mi) from the Liza-1 and Liza-2 projects on Stabroek.
The 25-year midstream project would also supply bauxite and gold mines with gas delivered by cryogenic tankers, replacing diesel.
ExxonMobil has a 45pc stake in Stabroek where current oil output of around 120,000 b/d is supposed to ramp up to 800,000 b/d by 2026. Its partners are US independent Hess with a 30pc interest and Chinese state-owned CNOOC unit Nexen with 25pc.
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London, 28 March (Argus) — The "best bet" to achieving global energy security is through mitigation funding and multilateral cooperation, according to the World Resources Institute (WRI). WRI highlighted that governments are funding more domestic renewable energy projects but have increased oil and gas production in the name of "energy security" at home in the years following the Russia's invasion of Ukraine. The recent rebrand of energy transition funding to energy security funding has allowed some developed nations to justify domestic oil and gas licences and drag their feet on multilateral financial commitments. This is causing "real worry" among climate-vulnerable developing nations, WRI chief executive Ani Dasgupta said. He said that although the initial "shock" to the world's energy markets after the invasion of Ukraine "quickly went away", it has triggered "real worry among poorer countries that when push comes to shove, it won't be an even game, or have a fair outcome." Developing countries have long complained about the lack of access to climate funding. Richer nations have only recently met the $100bn/yr target in climate finance to developing countries agreed in 2009, while discussions on setting a new climate finance goal for 2025 at Cop 29 in Baku in November could prove difficult. President of the Republic of Congo (Brazzaville) Denis Sassou-Nguesso said last year that the $100bn/yr in climate financing to developing countries promised by rich countries "never reached us", adding that the annual UN Cop climate conferences have become little more than a talking shop. "Just after the invasion of Ukraine, every country started to think about energy security," Dasgupta said. "In theory, good things could have happened, countries could have concluded that their best bet to getting energy security is by going renewable". But it was not the case in key consumer countries or regions, Dasgupta pointed out. China bought the majority of Russian gas following the EU's withdrawal, he said, and has since upped production at coal-fired power stations despite an "extraordinary" acceleration towards renewables set for 2023-28, according to Paris-based energy watchdog IEA . In Europe, the UK and Norway continue to award new oil and gas licences . "In the US, the fossil fuel lobby argues that the best route to energy security is to invest more in fossil fuels". But the best route is to invest in more renewables, he said. "Even if the US produces a large amount of oil and gas, it is still a traded commodity, and so you have to pay a price for it that is set globally." The US special presidential co-ordinator for energy security Amos Hochstein has also suggested in September that a widening climate finance gap could ultimately threaten global security. "We have seen the percentage of dollars spent on the energy transition outside the OECD, in developing and middle income countries actually go down instead of up…" By Madeleine Jenkins Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Louisiana pipeline crossing bill nears vote: Update
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Baltimore bridge collapse to raise retail fuel prices
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Louisiana pipeline crossing bill nears senate vote
Louisiana pipeline crossing bill nears senate vote
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