Suriname, Guyana and Brazil join forces to develop a new global gas hub

With information from EFE

Suriname, Guyana and Brazil will join resources to develop the gas sector and the economy of South Americaannounced this Tuesday the president of the first of the three countries, Chandrikapersad Santokhi, during the opening of a regional summit on energy.

Santokhi, during his speech at the International Energy Conference and Expo Guyana, which is being held for 4 days in Georgetown, stressed that the plan involving the three countries will also benefit the Caribbean region.

The president of Suriname is accompanied in this meeting by the president of Guyana, Irfaan Ali; the Prime Minister of Barbados, Mia Mottley, and the President of Ghana, Nana Akufo-Addo. Santokhi said, before more than a hundred directors of companies in the energy sector, that cooperation with Brazil and Guyana will benefit the entire region.

Guyana and Suriname, countries that have achieved a new role in the energy sector following their recent findings, have an obligation to comply with environmental standards.

“The question now is how we make that transition using our new resources to build a more diversified economy for generations to come. Suriname and Guyana, with these new resources, can mitigate energy poverty that hinders the development of productive lives,” Santokhi said.

The Prime Minister of Barbados pointed out that if opportunities are not provided for citizens to participate in a meaningful way in the development of their countries, problems could be generated.

Mottley also spoke of the history of economic underdevelopment in the Caribbean as a result of colonization, while calling for countries to achieve a balance in the development of their natural resources.

Ghana gives advice to Guyana

Akufo-Addothe President of Ghana, reflected on his country’s experience in the oil and gas industry, as well as offering Guyana a number of tips for dealing with its own energy sector, particularly with regard to striking a balance between seeking economic prosperity and environmental protection.

Akufo-Addo called for ensuring in the Caribbean that the oil sector remains a significant contributor to national budgets and becomes an attractive sector for investors. In December 2021, Guyana signed several agreements aimed at consolidating its relations with Ghana, especially in the energy sector.

Guyana has put in place legislative frameworks to manage the oil and gas sector, including the Natural Resources Fund Bill. The country has undergone a profound transformation of its economy since the discovery of oil reserves, with which it hopes to reach a production of 1.2 million barrels per day by the end of this decade.

Suriname and Guyana, countries that border the northern region of Brazil, have so far had little economic exchange with the Latin American giant, now interested in these two territories after the significant hydrocarbon reserves found on their coasts.