Thursday, August 24, 2017

Sorry tale all round*


STUART Young insists he will not be a murderer.
Before you rush out and help restrain the Minister in the Office of the Prime Minister and Minister of Legal Affairs, let me hasten to point out that he was not referring to a person but to an institution–the State-owned National Gas Co (NGC).
In a smoothly-conducted briefing on energy matters for journalists two weeks ago, he emphasised strongly that despite urgings from the oil and gas production companies “to open up the market and allow upstreamers to sell their gas directly to the downstreamers (the petrochemical companies, since LNG is already sold directly to Atlantic), “NGC will remain the sole aggregator of gas.”
Apparently, the margin that NGC makes on these transactions is too valuable to lose and it would mean the death of NGC in any case.
“We would have killed NGC,” Young asserted.
Not that there is no room for adjusting the current arrangement.
“We are having discussions, the outcome of which will revolutionise the way upstreamers end up downstream, with NGC continuing as aggregator.”

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