🛢️ Guyana may scale back its LNG export ambitions after ExxonMobil $XOM indicated it needs more offshore natural gas to maximize oil production, according to sources cited by Reuters. The Exxon-led consortium, which includes Chevron $CVX and CNOOC $600938, expects to require approximately 2 billion cubic feet per day (2 Bcf/d) of gas for reinjection into oil reservoirs to meet production targets at its approved developments. This could reduce the gas available for Guyana's proposed LNG export project, potentially cutting its initial capacity from 6 million tonnes per year (mtpa) to 3 mtpa, with expansion possible later. Government officials are also considering abandoning LNG exports altogether and prioritizing domestic electricity generation and petrochemical production. No final decision has been made, although sources indicate that a smaller LNG project is the more likely option. Guyana has requested greater clarity from ExxonMobil on available gas volumes, development costs and delivery timelines. The government is currently prioritizing a gas-fired power plant, while other proposed industrial projects may be delayed. Exxon's Stabroek Block contains approximately 11 billion barrels of oil equivalent in recoverable resources. The consortium is also advancing the Longtail and Haimara developments, which are expected to target non-associated gas and condensate. #ExxonMobil #LNG #Guyana