The inaugural Guyana Energy Conference and Exhibition 2021 (GEC-X ’21) was officially launched on Monday at the Pegasus Hotel in Kingston, Georgetown. The conference, which is set for September 28 and 29 this year, will focus heavily on assisting and connecting local businesses and foreign investors to the energy industry.
The conference is being facilitated by the Georgetown Chamber of Commerce and Industry (GCCI), a number of local businesses, the government and ExxonMobil.
President of GCCI, Nicholas Deygoo-Boyer, during brief remarks said the conference is also geared at helping persons to better understand the industry and ways in which they can benefit and participate in the sector.
“The purpose of this conference is to foster conversation in the energy sector in Guyana – from discussions on the extraction of crude oil to the importation of heavy fuel oils and our current usage of that to produce electricity, as well as the efficient distribution of electricity so that reliable supply is not something we dream of, but it is more something we are accustomed too,” Deygoo-Boyer said.
Deygoo-Boyer further stated that reliable energy in Guyana will also benefit other sectors such as agro-processing and the extractive industry.
“Too long have Guyanese businesses being limited by the cost of energy and that really results from both developmental and administrative challenges,” Deygoo-Boyer explained.
The conference will also seek to have long lasting impacts in building partnerships and collaboration with the business community and the government.
In an effort to be transparent and accountable, Deygoo-Boyer said what will be spent and earned on the conference will be published on GCCI’s website.
ExxonMobil is currently the largest foreign investor in Guyana and according to country manager, Alistair Routledge, ExxonMobil is pleased to support such ventures like these.
Routledge said efficient, dependable and sustainable energy is fundamental to any economy.
“Being here at the beginning of Guyana’s oil and gas industry is something ExxonMobil is very proud of but we also take it as a huge responsibility.
“…it’s (the oil industry) a rock that is going to create a lot of ripples across the country and to help drive many parts of the energy industry and the economy of the country in the future development,” Routledge said.
Delivering the feature address at the launch on Monday was Minister of Natural Resources Vickram Bharrat. He noted that the cost of energy continues to be an issue in the country’s development.
“We have always had a problem in Guyana with the cost of power generation and I think that has been a great hindrance to our country’s development and our government would have recognized that and we need to address it and address it as early as possible.”
Bharrat explained that with cheaper electricity comes more investment opportunities for the country. He also noted that Guyana does not have the necessary resources to explore its natural resources and as such it is important to partner with foreign investors.
The Natural Resources Minister further announced that the government will be partnering with Exxon on a project that will see the reduction of energy cost by more than 50 per cent.
“Not only households and businesses would benefit by reduction in electricity cost but also it will bring some much investment, both local and foreign investment to our country,” Bharrat stated.
It is expected that within the next three years Guyanese can enjoy cheaper energy.
