Guyana’s oil and gas subject of discussion at US congressional hearing for new ambassador

May 08, 2023 News

Kaieteur News – Guyana oil and gas sector was a major topic of discussion during the US congressional hearing held for the newly nominated ambassador, to Guyana, Nicole D. Theriot.

Newly nominated ambassador, to Guyana, Nicole D. Theriot

United States Senator Tim Kaine has said that President Irfaan Ali was upset that that country had blocked an Inter-American Development Bank (IDB) US$180 million loan to Guyana Shore Base Inc (GYSBI) because its operations were dedicated to the oil and gas sector and even cautioned that China could provide financing “with no strings attached.”

Recalling a meeting with Dr Ali last July, after the US had vetoed the loan, he said the Guyanese leader did not hide the fact that they were “incredibly disappointed”. “The point that President Ali made to me, and others have as well is that ‘ok, you say you are an ally, you should want us to develop our economy just like you develop yours’. Yes, that’s true. ‘You say that you want to help nations wean themselves away from over-reliance on petro-dictators like Venezuela or Russia or Iran or Saudi Arabia and have more energy available to back-stop if they move away from petro-dictators’. Yes, that’s American policy.

‘You’re blocking us, then from doing those things, developing our own economy and creating a resource that can help people move away from petro-dictators but you’re blocking us in a foolish way because we can go to China and get these investments and without the strings attached’,” he said

The Guyana government has repeatedly stated that China is an important partner in Guyana’s economic development.

Ms. Theriot acknowledged at the hearing that the Guyana government was upset that the US had blocked the loan. “They were quite displeased,” she said. But, she did not believe that the Guyana government viewed the US as an unreliable partner and would return to China

On the other hand, Senator Pete Ricketts criticised the Joe Biden administration’s decision. “I think that’s shortsighted given that China has no such restrictions in aggressively signing contracts to build infrastructure in Guyana and around the world and certainly, I think we would all agree that we would want to do a better job than that,” he remarked.

“No sir, I don’t think that’s the case and they have shown time and time again that we are the preferred partner of the US government and US companies,” she said.

Senator Ricketts observed that the Biden administration has contrastingly lifted sanctions that had been imposed on Venezuela’s Nicolas Maduro “authoritarian” regime to boost oil production.

Ms. Theriot said at that time the US had blocked the loan because it was not in line with the Biden administration’s position that it would not contribute to the further development of oil and gas. “I think because that is no longer an issue, we can only move forward and work to ensure that US companies are given a level playing field in the country,” she added. Scientists say fossil fuel emission of greenhouse gases contribute to climate change leading to severe floods, droughts, devastating storms and rising sea levels.

If approved, Ms Theriot would replace incumbent Ambassador Sarah-Ann Lynch who should have returned to Washington last year.

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Guyanese leader, Newly nominated ambassador, Nicole D. Theriot, President Irfaan Ali, Scientists, to Guyana, Venezuela’s Nicolas Maduro

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