Guyana’s role in the emerging green energy transition

At a recent offshore oil & gas conference in Houston, Guyana’s foreign minister said that the country’s economy is expected to grow 500% by 2030. Guyana’s current US$6.8 billion real GDP would ignite to nearly US$35 billion dollars, about the size of Paraguay, who has nine-times the population of the former British Colony. Per capita, this would make Guyana the second wealthiest country in Latin America, behind the Cayman Islands, a British territory. This unprecedented growth will be driven by Guyana’s recent discovery of 9 billion barrels of recoverable oil and gas. Despite the optimism, Guyana’s surge will also coincide with a world in which fossil fuels are losing favor among investors and governments.