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LatAmOil GUYANA LatAmOil

Guyana wants to conduct an expert review of hoped to make a final investment decision (FID)
ExxonMobil’s plans before taking further action, on the Payara project next month. “We need to
he explained. be ready to move as soon as the government is
The government has already informed Exx- ready,” Chapman said. “We are ready, but we
onMobil of its intentions, he added. need an approved development plan, and that
“Specifically, in relation to the Payara licence, approved development plan needs to come from
I have convened a meeting with various stake- the government.” ™
holders and I have made it very clear that we are
going to have a review of all that has been done
so far,” he said.
The president also stated that the country
had asked Canada for help with the review, the
cost of which will be covered by funds allocated
for technical assistance. “We are in the process
of engaging an international expert to do that
review on the work that has been done so far,”
he said, according to local press reports. He
explained that his administration had requested
that Canada help identify an appropriate party
but did not elaborate.
Ali was speaking on the same day that Natu-
ral Resources Minister Vikram Bharrat said that
Georgetown did expect to decide its course in
the near future.
The government does see the Payara project
as a high priority and will unveil its plans before
the end of August, he was quoted as saying by
Argus Media.
Bharrat also stressed, though, that Guyana
was not ready to move ahead yet. The presiden-
tial administration and the Energy Department
want to review the Payara project, “as we would
like to satisfy ourselves that it is a good contract
that will benefit Guyanese people,” he remarked.
ExxonMobil’s senior vice-president Neil
Chapman said in late July that his company Payara will be the third development project at Stabroek (Image: Hess)

BRAZIL
Chinese company to buy stake

in GNA’s LNG-to-power project

CHINA’S State Power Investment Corp. (SPIC) agreement on the project in the fourth quarter of
has arranged to buy a stake in Gas Natural Açu this year. They have also signed a separate accord
(GNA), Latin America’s largest LNG-to-power that permits SPIC to participate in future expan-
project. sion projects that will be known as GNA-III and
Earlier this week, SPIC signed a binding GNA-IV.
agreement on the purchase with the three part- As of press time, the parties had not disclosed
ners in the GNA joint venture: Siemens (Ger- the value of the deal for GNA-I and GNA-II.
many), BP (UK) and Prumo, a private Brazilian They have said, though, that the total cost of
entity controlled by EIG Global Energy Part- establishing the four power-generating TPPs
ners. Under the deal, the Chinese company will and associated infrastructure may hit $5bn.
acquire a 33% stake in GNA’s two thermal power GNA-1 and GNA-II will be part of the Açu
plants (TPPs), both of which are currently under Gas Hub, a complex that also includes an LNG
construction. When complete, the facilities will regasification terminal in the port of Açu in Rio
use regasified LNG delivered to the Açu Gas de Janeiro State. The terminal, a floating storage
Hub to generate electricity. and regasification unit (FSRU), will be operated
The parties intend to finalise the binding by Prumo and supplied with LNG by BP.

P14 www. NEWSBASE .com Week 32 13•August•2020