GEORGETOWN, Guyana – The Environmental Protection Agency (EPA) says the environmental permit for the Liza 1 Development Project, Offshore Guyana, has been modified to include specific regulatory requirements for flaring associated gas offshore Guyana by the existing EPA’s legislation.
It said, as a result, the payment has been calculated at the rate of US$30 per tonne of carbon dioxide (CO2).
The EPA said that due to technical issues offshore Guyana, Esso Exploration and Production Guyana Limited (EEPGL) recently resumed flaring offshore Guyana, following intermittent periods of extending since December 2019.
The company was projected to exceed the 14 Billion Standard Cubic Feet (Bcf) of gas estimated to be flared by the Environmental Impact Assessment (EIA) for the project on May 13, this year.
“In light of the preceding, EPA and EEPGL have been engaged in discussions regarding the technical and legal issues regarding modifications to address flaring,” the EPA said, adding that on Thursday, the modified permit was issued to EEPGL having been signed by both parties.
It said that the modified environmental permit includes revised terms and conditions relating to emissions reporting requirements, technical considerations for flaring, timelines for opening events, and an obligation on the company to pay for the emission of Carbon Dioxide equivalent (CO2e) as a result of flashing more than these timelines.