Exxon Mobil Corp. has announced its intention to boost natural gas production in oil-centric Guyana and is exploring avenues for exporting this fuel to international markets, according to country manager Alistair Routledge on Wednesday.
The company’s offshore developments have positioned Guyana as the fastest-growing major oil producer globally. However, Exxon has been urged by the government to enhance its utilization of the natural gas discovered alongside its oil reserves.
During a presentation, Routledge introduced the “Wales Gas Vision,” a concept aimed at transporting gas from Exxon’s Longtail project to the shore for applications in fertilizer and alumina production, as well as powering data centers. Exxon is expected to make a final investment decision regarding Longtail next year, with plans to commence operations by 2029. The project could potentially yield up to 1.2 billion cubic feet of gas per day.
While constructing a pipeline to Trinidad, which has the capacity for liquefied natural gas exports, would be financially unfeasible, Routledge mentioned that Exxon is considering alternative methods to market Guyana’s gas internationally at the Guyana Energy Conference in Georgetown.
“There remains a possibility of utilizing liquefied natural gas technology to connect to global markets,” he stated. “This is another option currently under investigation.”
The Wales Gas Vision initiative is distinct from Guyana’s gas-to-energy project, for which Exxon has already established an underwater pipeline to facilitate fuel supply for power generation. Routledge emphasized that the feasibility of these proposals hinges on factors such as volume demand, pricing, and timing.
SOURCE: Bloomberg News