Energy Minister outlines NGC $1billion loss

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Energy Minister outlines NGC $1billion loss

Several areas of concerns were highlighted in a letter to a former Minister of Finance and Minister of Energy in January 2014 outlining why the National Gas Company should not enter into a contract which resulted in the company experiencing a two point $1billion dollars loss.

This was revealed by Minister of Energy and Energy Industries, Stuart Young.

Minister Young was speaking at the weekly post cabinet news briefing held at the Diplomatic Center, St Ann’s this afternoon.

Minister Young revealed the contents of the letter which was sent to the two former government ministers in the People’s Partnership administration.

However, Minister Young said NGC has been able to make a profit in the first quarter of this year.

Source: Power News Digital