As the curtains came down today on the 2023 International Energy Conference and Expo, the event is being dubbed a major success by the Government, with the Finance Minister, Dr Ashni Singh indicating that it created a window of opportunities for local, regional and international businesses and investors to connect and even partner in the field of Energy.

The Energy Conference and Expo saw close to 1,000 delegates in attendance and more than 200 exhibitors on show.

During the closing panel at the Guyana Marriott Hotel on Thursday, Minister Singh said the Conference and Expo not only brought together Heads of Government, policymakers, academics, and industry professionals but also businesses, entrepreneurs and investors, who were presented with the ideal opportunity to network and explore opportunities for development within the Energy Sector. 

“The expo presented a fantastic opportunity to showcase the rapidly changing face of the Private Sector of Guyana because you had not only the traditional big names and the traditional big players who you would expect to be there but you saw a number of companies, some of which are completely new, some are local, some regional, some are international being able to convey here again to this audience and a much wider audience, what they are already doing in Guyana and with Guyana,” Dr Singh said. 

He pointed out that the four-day Energy Conference and Expo attracted energy giants like ExxonMobil and Hess Corporation as well as new entrance, and created a platform for them to advance their businesses.

“A lot of people clearly took advantage of the opportunity to introduce themselves to potential partners, potential clients, potential customers, and I would want also to characterize that as an extremely positive thing. I know that many people met new counterparts for the first time, they were able to introduce themselves, talk about what they’re doing, explore possible opportunities for partnerships, and I think the conference, and in particular, the activities on the margins of the conference, whether it was the coffee breaks, or the receptions that were held in the evenings, or the privately arranged bilateral contacts that the people engaged in, I think that was also hugely successful stream of engagement,” he said. 

The Minister of Natural Resources, Vickram Bharrat also applauded the organizers behind the International Energy Conference and Expo, as he too dubbed it one of the biggest Energy Conferences in Latin America and the Caribbean. 

“I think we can safely say that this conference was a great success,” Minister Bharrat said. 

Minister Bharrat said he was pleased to see local companies rising to the bar, and competing with and regional and international companies in the Energy Sector.  

He said he was happy with the focus on clean and affordable energy.

“We have no issue with that, as a country we are fully committed to achieving that, we’re working towards achieving that. But the big question is, how are we going to truly finance that? Renewables, costs money; moving to net zero, costs money; cutting emission, costs money. So, how are we going to truly achieve that? If we’re going to sit by and wait on help to come our way, we might be waiting for a long time. So, it speaks towards Guyana as a country sustainably and responsibly exploring and developing its natural resources, at the same time, we are maintaining our environmental credentials,” the Natural Resources Minister said. 

Referencing to the need for a balance and efficient energy mix, Minister Bharrat also stated that developing countries such as Guyana should be at the forefront of the supply chain. 

 “We strongly believe that fossil will not disappear completely. They will still remain even if it’s a small demand for fossil, it will still be there, the need for it will still be there. But the big question, is who will be able to supply it?… We are saying that small developing countries like Guyana, like Suriname, like Trinidad, like the African countries…who have made new discoveries, that we should be able or we should be allowed to supply that small demand that remain,” Minister Bharrat said. 

He reasoned that developed countries have long exploited their resources for their own development, and developing countries should be given the opportunity to do the same. 

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