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Suriname’s Government Aims for Rapid Exploitation of Gas Reserves

Government Initiatives and International Collaborations Drive Rapid Gas Resource Development

Suriname’s Government Aims for Rapid Exploitation of Gas Reserves

The government intends to expedite the exploitation of gas reserves despite statements from oil companies downplaying the priority of gas development. The Prime Minister stated that the government gives high priority to gas, contrary to the views expressed by the director of Staatsolie in the media. The cabinet plans to proceed swiftly with the exploitation of natural gas resources, even before oil companies, holding significant gas reserves off the coast, consider bringing them into production.

Gas Study Group

To strategize the utilization of gas for Suriname’s development, the President’s office has established a Gas Study Group comprising energy experts. This committee will conduct a study on gas reserves, presenting insights to the government for sustainable development.

Collaboration with Guyana

The government aims to extract bauxite reserves in West-Suriname in collaboration with Guyana, utilizing gas from the offshore area. The costs will be shared between the two countries. Trinidad and Tobago have expressed interest in purchasing gas from Suriname, necessitating the construction of a pipeline to Trinidadian production facilities in Point Lisa. Cooperation with Guyana is essential for such a deal, as Guyana also requires gas.

Additionally, exploring the joint use of gas reserves by Suriname and Guyana for industrial development, as well as supplying the northern regions of Brazil, is being considered. The government plans to power industrial parks with gas, promoting production, export, and urban development.

Expediting Plans

Suriname needs to act swiftly to capitalize on these opportunities. President Santokhi emphasized the urgency and mentioned that Guyana has a head start with shore bases already being established. Suriname is working on a master plan for shore bases, airports, and industrial development.

Government Support for Companies

Exploiting gas reserves is complex and costly, more so than oil. The government is prepared to assist all companies willing to initiate gas exploitation. Companies like Petronas, Apache Corporation, and TotalEnergies have discovered substantial gas reserves.

As of now, there are no legal agreements between Staatsolie and the oil companies regarding gas production, providing Suriname with the flexibility to seek investors interested in exploiting the gas reserves.

Source: https://dwtonline.com/regering-wil-snelle-exploitatie-gasreserves/

Date: 7 november 2023

Categories:  Olie- en Gasindustrie 

Tags:  Apache Corporation, Bauxite Reserves, Brazil, Gas Exploitation, Gas Reserves, Guyana, Overheid Suriname, Petronas, TotalEnergies, West-Suriname 

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