Former energy minister Stuart Young has accused the Government of incompetence and mismanagement of the energy sector, claiming recent developments involving major petrochemical companies at Point Lisas are undermining investor confidence and threatening jobs and foreign exchange earnings.

In a Facebook post yesterday, Young alleged that the Government’s gas allocation policies have contributed to the shut-down of plants operated by global fertiliser company Nutrien and warnings from methanol producer Methanex that further closures could follow.

FLASHBACK: The Nutrien nitrogen plant at the Point Lisas Industrial Estate in October last year.