Wales GTE storage facility

Sep 30, 2026 Editorial, News

(Kaieteur News) – The numbers are so far apart that one could be excused for thinking there is a mistake. There is no mistake, and it is not a routine matter. Hundreds of millions are at stake. They are in US dollars, which makes the difference significant, and the charge, if this were to succeed, a major pinch on Guyana’s treasury. In this era of billions in oil receipts, spending still should be a matter of prudent management, with every dollar counting, regardless of the currency involved. The issue that stands before this country is the money difference that has seeped into the public domain on the building of a storage facility as part of the US$2B Wales Gas-to-Energy project.

US-based, but Venezuelan owned Lindsayca Guyana Inc., submitted a bid for US$493M to build the storage and offloading facility and pipeline. A Chinese company, China CAM Engineering Co. Ltd submitted a bid for US$28M. It is not a typo, with a digit left out, or lower ones published. The huge differential between the two bids pushed us at this paper to question if the two companies are bidding on the same project, so far apart they are. A differential by a multiple of 17 is amazing on its face alone. What could Lindsayca be including in its work program with costs attached, and what could China CAM be leaving out, to account for this massive difference in bids? It is not a 20% or 30% difference, but the fact of Lindsayca bidding a whopping 1700% more than China CAM. This is what we are grappling with. These are the questions that we ask on behalf of the citizens paying in some way for this storage and offloading facility.