Exxon's Oil Surge Threatens Guyana's LNG Plans

Guyana has become a major oil producer, with Exxon and its partners in the Stabroek Block achieving over 1 million barrels of daily exports. This rapid growth, driven by discoveries of more than 11 billion barrels of oil, has outpaced the country's natural gas capabilities. The government initially aimed to export LNG, but now faces challenges due to insufficient gas supply for liquefaction. Exxon requires 2 billion cubic feet of gas daily for its operations, yet current production levels are insufficient to support a viable LNG export project. The government is now considering keeping the gas for domestic use or reducing the planned LNG facility's capacity. The situation highlights the tension between oil production needs and the feasibility of gas exports in Guyana.