 "Why Modi’s Guyana visit matters for India’s energy security")
Prime Minister Narendra Modi will embark on a historic state visit to the Caribbean nation of Guyana on Tuesday.
Energy security will be at the top of Modi’s three-day visit to Guyana, which has emerged as a key partner of India in the Caribbean region.
Guyana is a rapidly-growing nation following the discovery of oil and gas resources in the country. In engagement with the nation, India is not just looking forward to boost energy security but is also seeking to strengthen the standing among the Global South nations and the Caribbean region.
During Modi’s visit, India and Guyana are expected to sign a number of energy and defence agreements.
India is also tapping into Guyana’s unique history. Nearly 40 per cent of the nation’s population is of Indian-origin, including President Mohamed Irfaan Ali, whose ancestors were shipped by the British to the Caribbean region as indentured labourers in the 19th century.
Top-level engagements between India & Guyana
Modi’s visit to Guyana is the latest of the high-level engagement between the two nations.
Last year, Ali was the chief guest at the Pravasi Bharatiya Divas and was awarded the Pravasi Bharatiya Samman, the highest honour for persons of Indian origin.
Modi’s visit to Guyana is the first by an Indian premier since former Prime Minister Indira Gandhi’s visit in 1968.
Modi is set to hold talks with Ali and address a special session of Guyana’s parliament.
Following Ali’s visit to India in January 2023, Guyana’s Vice President Bharrat Jagdeo visited India the next month.
In February, Guyana’s Prime Minister Mark Phillips also visited India, followed by ministerial- and military-level visit.
Impact Shorts
More ShortsIndia’s eyes at energy security
Following the discovery of oil and gas, Guyana is experiencing annual growth of more than 40 per cent on the back of oil boom.
As Guyana has emerged as a magnet for traders and investors, India has ramped up engagement with the country.
Thanks to strong historical and cultural ties between the two nations, India and Guyana say they are looking forward to mutually beneficial agreements, according to The Guardian.
Guyana’s Foreign Secretary Robert Persaud told the newspaper that Modi’s visit would be a significant milestone in bilateral relationships.
Persaud further said, “Both countries can, through their cooperation, develop greater synergies in a variety of areas, including energy, agriculture, technology and security. Already, we have strong bilateral ties, but with PM Modi’s visit, it is expected that the relations between Guyana and India will be taken to a level that will see enhanced benefits for both countries.”
Scott MacDonald, an economist and Caribbean Policy Consortium fellow, told the newspaper that Modi’s visit is aimed at boosting India’s global foreign policy profile and tapping into the Carribean region’s burgeoning energy complex.
MacDonald said, “Guyana is climbing the ranks as an oil province. It will continue to grow for both oil and natural gas and, let’s face it, India faces a deficit in terms of its ability to generate power. It needs imported energy. Suriname next door to Guyana is on the verge of having its own revolution in natural oil and gas … so, for India, looking at the southern energy complex which is Guyana, Suriname, Trinidad and Tobago and possibly Grenada, is geopolitically important.”
At a briefing ahead of Modi’s visit, Ministry of External Affairs Secretary (East) Jaideep Mazumdar said that while India aims to partner with Guyana on energy-related issues, the scope of cooperation is much broader.
“Guyana is, as you know, on the cusp of an economic and developmental transformation with major discovery of oil and gas. We hope to partner them in a number of fields including in hydrocarbons, but also in areas of healthcare, education and defence. It is the fastest growing economy in the world and we will have opportunities for partnering them in diverse fields,” said Mazumdar.
In recent years, as a mark of energy ties, the Indian Oil Corporation Ltd (IOCL) purchased 1 million barrels of crude oil from Guyana in addition to a consortium of HPCL-Mittal Energy purchasing 1 million barrels, according to ETV Bharat.
Additionally, state-run ONGC Videsh and Oil India Limited (OIL) have shown interest in participating in Guyana’s oil and gas sector, as per the outlet.
India is focussing on Guyana’s energy sector to diversify India’s energy supplies as supplies from the Middle East are subject to disruption and oil purchases from Russia are subject to scrutiny in the West. Therefore, Guyana and neighbouring Caribbean nations are a safe source.
India is also looking at Guyana as a gateway to the Caribbean region. During the visit, Modi will meet other nations from the Caribbean Community (Caricom), an intergovernmental organisation of 15 Caribbean nations, at the Caricom-India Summit on Thursday. He will co-chair the summit with Grenada’s PM Dickon Mitchell.
Ahead of the summit, Caricom said that the summit is expected to “further solidify bilateral cooperation between Caricom and India in energy and infrastructure, agriculture and food security, health and pharmaceuticals, and technology and innovation”.
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