STO preparing additional 1,500‑tonne gas storage to stabilise supply

Finance Minister Moosa Zameer says state‑owned STO is working to establish an additional 1,500 tonnes of gas storage capacity in the Male' area, as the government moves to stabilise supply amid recent disruptions.

Speaking Wednesday, Zameer said Maldives does not face a structural gas shortage, but delays occur because the same supplier serves Maldives, Bangladesh and Sri Lanka, with shipments moving between countries by sea. Weather‑related ship‑to‑ship transfers in Maldivian waters also contribute to temporary delays, he said.

STO currently has 1,000 tonnes of gas in storage. The minister said the company is now in the procurement stage of expanding capacity by another 1,500 tonnes, with the project expected to be completed by the end of this year.

“By that time we could have two and a half months of stock in the Male' area,” Zameer said, adding that the government is carrying out planned works to ensure supply security.

Gas supply has tightened in recent weeks due to global oil and gas market shocks, including disruptions linked to the escalating Middle East conflict. Maldives Gas, an STO subsidiary, introduced temporary measures to prevent stocks from running out, including selling 10‑kg cylinders filled with only 5 kg of gas at MVR 100.

STO said Monday that a new shipment of cooking gas had arrived in the Maldives.