Guyana's Gambit: The Uncertain Future of Fulcrum LNG

Guyana's selection of Fulcrum LNG, an upstart U.S. company, to develop its natural gas resources is facing skepticism. With financing doubts and a lack of experience, the choice is now under scrutiny, with Exxon Mobil potentially stepping in to fill the gap. Government officials and oppositions express concerns.

Skepticism is mounting over Guyana's decision to contract year-old U.S. startup Fulcrum LNG for developing its untapped natural gas reserves, potentially worth $30 billion. Financing challenges threaten the startup's involvement, pushing Guyana towards reliance on an Exxon Mobil-led consortium.

Despite Fulcrum's initial enthusiasm, as stated by its founder Jesus Bronchalo, the company has failed to secure financial backing. Officials now label its selection as tentative, contrasting with the initial portrayal by the finance ministry as an economic triumph.

The opposition casts doubt on Fulcrum's experience and its capability to secure necessary funds. While the government favors collaboration with Exxon, uncertainties persist, fueling debates about Guyana's strategic direction in exploiting its gas reserves.

(With inputs from agencies.)