President Irfaan Ali has urged ExxonMobil and its partners operating in the Stabroek Block offshore Guyana to see how best they can work to monetize the country’s natural gas before 2030, declaring that he is not prepared to have the country’s natural gas not being optimally utilized for the benefit of Guyanese.

Speaking at the Berbice Development Summit Agenda on Tuesday, the President said his Government has no intention of postponing goals and plans, and therefore wants all parties involved to find a workable solution

“Importantly for the consortium at Stabroek (blook). The option must lead to monetization before 2030. I am not willing to push monetization beyond 2030. Constitutionally, I have an election in 2031, and I can’t run again and I am not leaving this decision for anyone after me,” the President said.

The government has selected Fulcrum LNG to collaborate with ExxonMobil to monetize the country’s Liquefied Natural Gas (LNG) resources, but no formal agreement has been signed as yet.

In October, ExxonMobil Guyana President, Allister Routledge, said that turning Guyana’s gas into liquefied natural gas was not a priority. But the President said that country’s gas development must be accelerated.

“I believe that maximizing the oil potential by accelerating the development must be matched by accelerating investment on the gas side, its not one or the other, it is finding the vehicle within the new few days, that would allow these factors that I have just outlined to be realized,” the President said.

The President said the country does not have months to dedicate on a single project that will not bring short term benefit for the country and urge that all possible options be explored soonest.

“So any option that does not allow this country to monitize gas before 2030 will not have the type of support that I would like to give,” the President noted.

He said the Government will be using the profit from all the associated gas resources in the Stabroek Block to bring in more revenue for the country and offer new opportunities for the people of Guyana.

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