PM tells Guyana conference region needs to fully capitalize on its resources

Home*Cover Story*News

PM tells Guyana conference region needs to fully capitalize on its resources

Prime Minister Dr Keith Rowley delivered an address at Guyana’s Energy Conference and Supply Chain held earlier today (Monday 19th February, 2024).

In his address, Dr Rowley said, “With the emergence of our region as a significant player in the hydrocarbon industry, we are presented with a valuable chance to proactively utilize our combined knowledge and expertise in order to maximize future prospects. By ensuring our region fully capitalizes on its resources, including human and mechanical, we can guarantee the alignment of energy and industrial transformations with a collaborative economic strategy.

“For successful implementation, these strategies must be accompanied by efficient and effective public management systems and integration into the local economy through shared infrastructure and value chains. To this end, we in the deep southern Caribbean are currently actively engaged in spawning a cargo ferry service which we are confident can grow into a major catalyst for welcomed regional collaboration, development and diversification.”

He added, “Energy transformation is not just about providing carbon-free energy but prospering on the way to doing so.”

The Prime Minister also made a subtle pitch for countries in the region to lean on Trinidad’s more than 100 years of experience in the oil and gas sector.

For him, there must be efficient production in the region so that energy resources can be best harnessed and used to fund the growth of other sectors be it agriculture or manufacturing.

Secretary-General of the Caribbean Community (CARICOM), Dr. Carla Barnett, who spoke earlier in the opening ceremony, also highlighted that the energy sector developments in Guyana, Trinidad and Tobago and Suriname, can help guarantee energy security in the region.

And that is important, she said, because the region isn’t one that is energy secure. Such discussions are expected to be a key part of this year’s energy conference.

From Monday to Thursday, various stakeholders will be discussing the energy sector in Guyana- one of the most exciting oil hotspots in the last decade with production set to increase to about 1.2 million barrels of oil by the end of the decade.

WATCH as Prime Minister Rowley delivers his full address below: