The Oil and Gas Authority (OGA) is highlighting the importance of protecting the Sullom Voe oil and gas terminal. They have published a report which says that low oil prices could lead to the premature closure of critical infrastructure with the potential to shut down whole areas of the North Sea. Sullom Voe is mentioned by the OGA as a vital cog in the oil and gas wheel. Today in a Holyrood Economy debate Shetland MSP Tavish Scott will raise Sullom Voe’s importance to the local, Scottish and UK economy and the need to maintain its role.
Tavish Scott who will be in Aberdeen tomorrow to meet oil companies including Total, Chevron and BP at Offshore Europe, said “Sullom Voe is recognised by the industry, its regulator the OGA and government as an essential link in the safe exploitation of oil and gas reserves from both east and west of Shetland. But its future depends on prices that allow the industry to produce oil without losing money. There is no doubt that the continued run of oil prices at $40-50 a barrel puts enormous pressure on the industry.”
“I will be discussing the future investments in and around Shetland with companies tomorrow at Offshore Europe. Today I want to highlight the importance of Sullom Voe to the whole country in this Parliamentary economy debate.”