Vice President Dr. Bharrat Jagdeo has made it clear that the Government of Guyana will not sign any agreement with Karpowership, the Turkish-based energy company, before the country’s upcoming general and regional elections scheduled for September 1, 2025.

Speaking at a recent press conference, Jagdeo emphasized that while Karpowership has proposed using Guyana’s natural gas resources to supply up to 300 megawatts of power to the national grid, no arrangement will be finalized ahead of the elections. “We are not going to conclude any arrangement with Karpowership before elections…. We’re too close to the elections to do that,” he stated.

The Vice President explained that the government is still assessing the proposal, which would see Karpowership deploying a floating power plant to utilize natural gas from the Stabroek Block. The plan is seen as a potential interim solution to Guyana’s energy needs, especially given delays in the flagship Gas-to-Energy project, now expected to be completed by mid-2026.

Jagdeo also reiterated that the same approach applies to other major oil and gas deals, including gas development agreements and prospecting licenses. He stressed that no new oil agreements or gas monetization projects will be signed during the lead-up to the elections, underscoring the administration’s commitment to transparency and good governance during this critical period.

While acknowledging that Karpowership’s proposal could offer significant savings by replacing expensive heavy fuel oil with natural gas, Jagdeo assured the public that any decision on the matter will be deferred until after the elections. The government’s stance is intended to ensure that such significant agreements are made with full accountability and public trust.