Guyana selects Fulcrum LNG with ExxonMobil

The Government of Guyana has selected Fulcrum LNG, headed by a former ExxonMobil executive, to collaborate with Exxon in the development of a new natural gas project.

Share:

Développement gaz naturel Guyana

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25£/month*

*billed annually at 99£/year for the first year then 149,00£/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2£/month*
then 14.90£ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The government of Guyana recently announced the selection of Fulcrum LNG, a company newly created by former ExxonMobil vice-president Jesus Bronchalo, to support the country in the creation of a natural gas development project. This choice comes after a careful analysis of 17 proposals submitted, with Fulcrum LNG presenting “the most comprehensive and technically sound proposal”, according to Guyana’s Ministry of Natural Resources.

A strategic partnership for gas development

With an estimated 16,000 billion cubic feet of natural gas reserves off its Caribbean coast, Guyana is looking to diversify its booming energy industry. The project aims to monetize these untapped resources and establish a second energy branch for the country. The involvement of Fulcrum LNG, headed by a formerExxonMobil executive, is seen as an asset, despite potential conflict of interest concerns, which the government has deemed irrelevant.

A project with significant implications

Guyana’s president, Irfaan Ali, has indicated that an agreement with the government, which may or may not include Exxon, is not expected before next year. ExxonMobil, although it has not yet made a decision on its participation in the project, has affirmed its commitment to helping Guyana develop its natural gas resources. The gas development project, considered a national priority, plans to export gas to Brazil and build a liquefaction plant for global exports.

Perspectives and challenges

Jesus Bronchalo, during his tenure as Exxon’s Vice President in Guyana, was a key figure in government relations and oversaw major projects, including a $55 million a year gas supply agreement. The new company, Fulcrum LNG, was founded by Bronchalo last July, and he takes on the roles of CEO, secretary, treasurer and director. The Guyana government maintains that Bronchalo’s past relationship with Exxon does not constitute a conflict of interest, given the termination of his ties with the oil company. The Ministry of Natural Resources also mentioned that, if necessary, the project could be carried out without Exxon’s participation.
Guyana’s gas project represents a strategic opportunity for the country to diversify its energy economy and maximize the value of its natural resources. The selection of Fulcrum LNG and the potential involvement of ExxonMobil are crucial steps towards achieving this ambitious goal. Future challenges include finalizing agreements and putting in place an infrastructure capable of supporting this major energy development, while ensuring transparency and efficient resource management.

Maple Creek Energy has secured the purchase of a GE Vernova 7HA.03 turbine for its gas-fired power plant project in Indiana, shortening construction timelines with commercial operation targeted for 2029.
Talen Energy has finalised a $2.69bn bond financing to support the purchase of two natural gas-fired power plants with a combined capacity of nearly 2,900 MW.
Excelerate Energy has signed a definitive agreement with Iraq’s Ministry of Electricity to develop a floating liquefied natural gas import terminal at Khor Al Zubair, with a projected investment of $450 mn.
Botaş lines up a series of liquefied natural gas (LNG, liquefied natural gas) contracts that narrow the space for Russian and Iranian flows, as domestic production and import capacity strengthen its bargaining position. —
A record expansion of liquefied natural gas (LNG, gaz naturel liquéfié — GNL) capacity is reshaping global supply, with expected effects on prices, contractual flexibility and demand trajectories in importing regions.
The Philippine government is suspending the expansion of LNG regasification infrastructure, citing excess capacity and prioritising public investment in other regions of the country.
Caracas suspended its energy agreements with Trinidad and Tobago, citing a conflict of interest linked to the foreign policy of the new Trinidadian government, jeopardising several major cross-border gas projects.
TotalEnergies is asking Mozambique for a licence extension and financial compensation to restart its $20 billion gas project suspended since 2021 following an armed attack.
An Italian appeal court has approved the extradition to Germany of a former Ukrainian commander suspected of coordinating the 2022 sabotage of the Nord Stream gas pipeline, a decision now challenged in cassation.
QatarEnergy has acquired a 40% stake in the North Rafah offshore exploration block, located off Egypt’s Mediterranean coast, strengthening its presence in the region in partnership with Italian group Eni.
The U.S. Department of Energy has given final approval to the CP2 LNG project, authorising liquefied natural gas exports to countries without free trade agreements.
LNG Energy Group finalised a court-approved reorganisation agreement in Colombia and settled a major debt through asset transfer, while continuing its operational and financial recovery plan.
Daniel Chapo is visiting the United States to encourage ExxonMobil to commit to a major investment in Rovuma LNG, a strategic gas project for Mozambique as TotalEnergies resumes its suspended operations.
Baker Hughes will expand its coiled tubing drilling fleet from four to ten units in Saudi Arabia’s gas fields under a multi-year agreement with Aramco, including operational management and underbalanced drilling services.
Tokyo Gas commits to one million tonnes per annum of liquefied natural gas under the Alaska LNG project, boosting Glenfarne’s commercial momentum after five agreements signed in seven months.
Indonesia Energy Corporation partners with Aquila Energia to develop two pilot projects combining solar and natural gas to power data centres in Brazil, under a non-binding framework supported by both governments.
A former Ukrainian soldier accused of taking part in the 2022 sabotage of the Nord Stream pipeline is at the centre of a contested extradition process between Italy and Germany, revived by a ruling from Italy’s Court of Cassation.
Venezuela demands full financial compensation for any gas exports from the offshore Dragon field, reactivated following U.S. authorisation granted to Trinidad and Tobago.
Vistra Corp. finalises the purchase of seven natural gas power plants totalling 2.6 gigawatts, strengthening its presence in key US electricity markets.
Tidewater Midstream and Infrastructure has finalised the sale of its non-core Sylvan Lake site to Parallax Energy Operating for $5.5mn, with limited impact on its 2025 results.

All the latest energy news, all the time

Annual subscription

8.25£/month*

*billed annually at 99£/year for the first year then 149,00£/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2£/month*
then 14.90£ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.