More strategic partnerships for regional energy security imminent – Guyana Chronicle
–as Guyana, US look to foster greater cooperation
PRESIDENT, Dr. Irfaan Ali, on Tuesday, met with newly appointed US Secretary of Energy, Chris Wright, on the sidelines of CERAWeek in Houston, Texas.
The Guyanese Head-of-State during the engagement, highlighted the the strong partnership between Guyana and the United States in advancing energy security for regional prosperity and integration.
President Ali also underscored the strategic opportunities in regional security, and reaffirmed his government’s unwavering commitment to being a stable and democratic partner.
The meeting concluded with a shared commitment to deepening collaboration, strengthening ties, and fostering greater cooperation now and in the future.
Over the last four years, Guyana has seen billions of US dollars in foreign direct investments. For the first half of 2024, Guyana recorded a substantial US$4.163 billion increase in export receipts, with further growth expected by the end of the year.
In addition to economic investments, the US has significantly invested in Guyana’s human resources and security.
The favourable investment environment in Guyana is attributed to the government’s efforts to strengthen the economy and develop key sectors such as gas-to-energy, healthcare, education, and infrastructure.
United Stated (US) Ambassador to Guyana, Nicole Theriot had revealed back in December 2024, that Guyana was rapidly becoming a prime destination for international investors, with over 3,000 US small and medium enterprises (SMEs) exporting to the country in 2023.
The favourable investment environment in Guyana is attributed to the government’s efforts to strengthen the economy and develop key sectors such as gas-to-energy, healthcare, education, and infrastructure.
“It’s not just our large Fortune 500 companies that are making an impact. Small and medium enterprises trading with each other is arguably even more important for long-term diverse economic growth,” Theriot had said.
Since 2021, US companies have been involved in major projects, from ExxonMobil’s offshore oil developments to luxury hotel investments such as Four Points by Sheraton, and Hyatt Place.
These initiatives align with Guyana’s rapid economic transformation, and are supported by the People’s Progressive Party/Civic (PPP/C) Government’s push to develop a diverse range of industries, including healthcare, education, and renewable energy.
More recently, in a significant step towards advancing its energy infrastructure, Guyana officially signed a loan agreement with the US Export-Import (EXIM) Bank for its ambitious gas-to-energy (GTE) project.
The contract was officially signed at the GTE project site at Wales, West Bank Demerara, where the US EXIM Bank’s President and Chairperson, Reta Jo Lewis highlighted the significance of the project which aims to reduce the cost of electricity, enhance energy security and promote environmental sustainability.
Jo Lewis said: “Together, we are taking bold steps to strengthen energy security, enhance environmental sustainability and unlock economic opportunity.”
She further pointed out that this multimillion-dollar collaboration is just the first of many, emphasising the long-standing relationship between Guyana and the US.
