Reports citing people close to the talks say ExxonMobil has told the Guyana government it will need about 2 billion cubic feet per day (bcf/d) of offshore gas for reinjection into its oilfields to meet crude production targets. According to BOE Report, carrying a Reuters wire report, that requirement could leave officials weighing whether to shrink the planned liquefied natural gas (LNG) export project from about 6 million tonnes a year to roughly 3 million, or forgo exports entirely in favour of domestic power and petrochemical use. No final decision has been reported, and officials have not confirmed the figures publicly.

What The Reports Say

The account traces to a single Reuters report published on 13 October 2026, which several outlets carried in full or in part. Ignite News and BOE Report each reproduced the Reuters wire copy verbatim, while Bloomberg, via Yahoo Finance, published a separate analysis piece that explicitly cites ‘Reuters reported this week’ as its source for the reinjection figure, and GuruFocus likewise draws its factual content from the same original reporting. Readers should treat this as one underlying account, attributed to two people close to the talks, rather than independent corroboration from multiple newsrooms. That report says the Exxon-led consortium, which includes Chevron and CNOOC, is forecasting it needs roughly 2 bcf/d of gas reinjected into its fields to hit output targets across government-approved projects. That volume, the sources said, would constrain whatever gas remains for export infrastructure, including the floating LNG facility proposed by Fulcrum LNG, the developer Guyana selected in 2024 following a tender involving 17 companies. Rather than the originally planned 6 million tonnes per annum (mtpa), the project may need to start at up to 3 mtpa with later expansion, according to the sources. Natural Resources Minister Vickram Bharrat earlier told Reuters that Guyana has been seeking greater clarity from Exxon on available gas supplies, though he declined to comment this week on the status of talks. The same sources said scaling back the LNG project, rather than abandoning it outright, is considered the most likely outcome, while the administration is said to be prioritising completion of a gas-fired power plant. Other industrial proposals, including a bauxite-to-alumina refinery, fertiliser production and large data centres, are reportedly on hold pending clarity on gas availability.

What It May Mean For Guyanese Businesses

If officials do tilt toward domestic gas use rather than large-scale LNG exports, the practical effect for Guyanese suppliers and contractors could shift accordingly. A notice from the Department of Public Information describes plans to combine a gas-fired power plant and a natural gas liquids (NGL) plant in the Wales Development Zone, on allocated land at Hermitage, with an original construction timeline running from Q3 2022 to Q4 2024. That notice is undated in its current form and reflects planning language from an earlier project phase, so it should be read as background on the stated rationale for combining the two facilities rather than confirmation of where the project stands today. Should the reported scaling-back of LNG proceed, procurement, construction and support-services demand may concentrate more heavily around gas-fired power generation, NGL processing and downstream uses such as petrochemicals, rather than around a larger LNG export terminal. This would not necessarily reduce the overall volume of project work available locally, but it could change its composition, favouring firms positioned around power generation, gas processing and industrial feedstock supply chains over those geared toward export-terminal construction. Guyanese agro-processors and fertiliser-adjacent businesses, already discussed in AAGENS’ coverage of the agriculture and agro-processing investment frontier, may find any eventual fertiliser production tied to domestic gas allocation worth monitoring closely, even though that project is reported as currently on the back burner. Businesses should treat these as reported possibilities, not confirmed government policy, given that no final decision has been announced.

Practical Implications For Contractors And Service Firms

Local contractors, engineering firms and suppliers tracking Guyana’s energy build-out may wish to review how their service offerings align with power generation, gas processing and petrochemical infrastructure rather than export-terminal logistics, pending clearer government signals on current project status. Diversifying client pipelines across domestic power, gas processing and broader industrial gas users could reduce exposure to any single project timeline, particularly while official confirmation of the Wales facilities’ present schedule remains unclear. Firms uncertain how shifting energy priorities might affect procurement forecasts, financing needs or contract structuring may benefit from independent review before committing capital or staffing to a particular segment.

Monitoring continues as the Guyana government has yet to confirm a final decision on gas allocation between reinjection, domestic power, and any remaining export capacity. AAGENS will track further official statements as they emerge, including any formal update from the Ministry of Natural Resources or EEPGL.

Guyanese organisations evaluating exposure to shifting energy infrastructure priorities can consult AAGENS’ advisory services for sector-specific guidance.

Sources: BOE Report; Bloomberg via Yahoo Finance; GuruFocus; Ignite News; Department of Public Information.