News Desk
STO subsidiary Maldive Gas has begun work to expand the country’s cooking‑gas storage capacity, aiming to build reserves sufficient for two months and 15 days, Finance Minister Moosa Zameer said today.
Speaking at a media briefing at the President’s Office, Minister Zameer said procurement for the new storage facility is already under way and the project is scheduled for completion before the end of the year. At present, Maldives Gas can store around 1,000 tonnes of gas at a time.
Zameer said the expansion is essential to resolving the recurring shortages experienced in recent months. Maldives Gas has twice limited sales in the past two months due to a spike in demand.
“Looking at this year, the gas shortage must be solved. It is not easy to secure gas tankers. We already have oil tankers, and STO has bought a vessel this year,” he said.
The minister added that regional supply remains stable, noting that Sri Lanka and Bangladesh receive gas from the same supplier, with smaller vessels operating between ports. He said the issue is not supply availability but the Maldives’ limited storage and shipping constraints.
Zameer said the new facility will allow the government to maintain a more reliable buffer stock and reduce vulnerability to shipping delays, seasonal demand fluctuations and global market disruptions.
The project is part of a broader effort to strengthen the country’s essential‑goods supply chain, following several months of heightened demand and public concern over gas availability. Since taking office, President Dr Mohamed Muizzu has overseen a complete rewrite of the Maldives’ essential‑goods and food‑security policy framework — the first time the government has expanded its focus beyond the traditional three staple food items. The revised policy now covers a wider basket of essential commodities, supply‑chain resilience measures, and long‑term storage planning, reflecting the administration’s push to ensure national preparedness during global disruptions.
