Preheat your grill or grill pan over medium-high heat.
In a bowl, combine the vegetable oil, garlic powder, ground ginger, salt, black pepper, and cayenne pepper.
Add the chicken strips and toss to coat evenly.
Thread the chicken onto the soaked skewers.
Grill the chicken skewers for about 5-7 minutes on each side, or until fully cooked and no longer pink in the center.
Remove from the grill and let rest for a few minutes.
While the chicken is grilling, prepare the Thai peanut sauce by whisking together the peanut butter, soy sauce, honey, rice vinegar, lime juice, sesame oil, minced garlic, and minced ginger in a medium bowl.
If the sauce is too thick, add water, one tablespoon at a time, until desired consistency is reached.
Serve the grilled chicken satay with the peanut sauce for dipping.