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Former energy minister Stuart Young has launched a blistering attack on the Kamla Persad-Bissessar administration, accusing the Government of incompetence and mismanagement of the country’s energy sector following the shutdown of a major fertiliser plant at Point Lisas, and warning that further closures can follow.
In its first quarter earnings call on April 30, Rich Sumner, the CEO and president of the Vancouver, Canada-headquartered Methanex, said the company is considering “all possible outcomes,” including the potential idling of its producing methanol plant or a short-term gas contract, as reported by the Sunday Business Guardian.
In a post on social media yesterday, Young said that in less than a year, the Government’s handling of gas allocation policy has already led to the closure of plants operated by Nutrien, one of the world’s largest fertiliser companies, and has now put T&T’s methanol sector at risk, adding that Methanex—one of the largest global methanol producers—has signalled that it may also be forced to shut down operations in the country.
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