Guyana sees natural gas as the next frontier after oil
HOUSTON, March 5 (Reuters) - Guyana, the South American country home to the world's largest oil discoveries in a decade, next wants to develop its mostly untapped natural gas reserves, Vice President Bharrat Jagdeo said on Sunday.
The nation of 800,000 people aims to diversify its oil sector and secure new sources of revenue before the energy transition reduces demand for fossil fuels. Guyana has emerged as an oil powerhouse following the discovery of more than 11 billion barrels of recoverable oil and gas by a consortium led by Exxon Mobil.
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The gas found so far by Exxon at the massive Stabroek block is not being collected or sold. Exxon currently reinjects it to maintain the pressure of producing oil wells.
(Reporting by Marianna Parraga; additional reporting by Gary McWilliams)