Guyana looking at strategic hydrocarbons storage

Guyana’s government is looking at strategic storage as part of energy security and the country’s planned oil refinery, according to vice president Bharrat Jagdeo.

“We’re exploring what it would take to toll some of our crude and what fee we may have to pay for tolling the crude and then bring in back the refined products and storing them like in the US,” Jagdeo said during a press conference.

On the natural gas front, he said a strategy to monetize the fuel is moving ahead with actions that include seeing what interest there is in the market.

The vice president highlighted that the roadmap envisions using gas beyond the gas to energy project for potential use for petrochemicals and LNG.

Jagdeo added that work on the strategy will gain momentum once the offshore licensing round closes.