Guyana Update: Gas to Energy for Guyana, or Problem to Profit for Exxon?

Drilled

Critical Frequency

True Crime, Earth Sciences, Social Sciences, Science

4.8 • 2.3K Ratings

🗓️ 9 October 2023

⏱️ 29 minutes

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Summary

A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) looks at the details of Guyana's planned "Gas to Energy" project and finds mostly benefits for ExxonMobil and more debt for Guyana. Read the full report here: https://ieefa.org/articles/guyana-gas-energy-project-unnecessary-and-financially-unsustainable Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome back to Drilled. I'm Amy Westervelt. I know we're in the middle of a new season on the
0:13.7	criminalization of protests, but I'm bringing you an update today. On an earlier season, light,
0:21.2	sweet crude are season about the creation and expansion of a new oil and gas industry in Guyana.
0:28.1	When we were working on that season, it was very hard to get any information at all about what
0:33.2	was being called the gas-to-energy project. This was a plan to pump excess gas from the oil drilling
0:41.2	offshore, onshore to a facility, and then use it either for export or for fuel in Guyana. A new
0:49.4	report has come out from the Institute for Energy and Economic Analysis, IEFA, and Tom Senzillo,
0:56.1	the author of that report spoke to me about what he has found about this project.
1:03.6	In the nutshell, it seems to be a way for Exxon to turn what was a problem for them,
1:09.5	excess gas that they couldn't flare without being fined into a new revenue stream.
1:17.2	Gas that is technically free for Guyana, but that they're spending an awful lot of money
1:23.2	paying Exxon to get to shore, and back with more details on that after this quick break.
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