Minister of Energy and Energy Affairs Dr Roodal Moonilal says the Government remains engaged in efforts to secure natural gas supplies and support the country's energy sector despite Methanex Corporation's decision to indefinitely idle its Titan methanol plant at Point Lisas after failing to secure a new gas supply contract.

Responding to questions on Tuesday about the company's announcement, Moonilal acknowledged that ongoing discussions involving Venezuela had been affected by recent developments in the neighbouring country, but stressed that negotiations and the review of several agreements were continuing.

Methanex announced on Monday that it had been unable to agree to a new natural gas contract for its Titan methanol plant at Point Lisas, which has an annual production capacity of 860,000 tonnes. The Vancouver, Canada-based company said it would begin the process of indefinitely idling the facility after its existing gas supply contract expires in September.