Guyana considers cutting liquefied natural gas exports for domestic use

The government of Guyana is considering keeping its natural gas for the domestic market, Oilprice reported. The nation may prioritize domestic energy supplies or reduce its planned liquefied natural gas export capacity from 6 million tons to 3 million tons per year. [1]

Oil discoveries made by ExxonMobil off the coast of the country have driven the recent expansion of energy production. Guyana is expected to finish the year with crude oil exports reaching a daily rate exceeding 1 million barrels, according to Oilprice. [1]

Guyana is located on the northern coast of South America, bordered by the Atlantic Ocean, Brazil, Suriname, and Venezuela. Its capital and largest city is Georgetown. [10]

A final decision on whether to alter the planned export capacity would determine how much of the gas associated with offshore oil fields is redirected to fuel local economic development. [1]