Tuesday 22 April 2008

Oil & Gas UK Statement Regarding Grangemouth Dispute

Commenting on the potential strike action at Grangemouth refinery, Oil & Gas UK's chief executive, Malcolm Webb, said:

"We sincerely hope that the parties concerned can resolve their differences to avoid industrial action.  If that is not possible, we urge Ineos and the unions to take the necessary steps to ensure that the Grangemouth site can continue to provide the essential utilities to keep the Kinneil processing plant operating and the Forties Pipeline open.

"It should be noted that if oil and gas production offshore were to be shut down, it would take several days to re-start safely. We therefore urge the parties involved to take all necessary steps to ensure that this dispute does not affect the nation's oil and gas supplies from the North Sea.

"While any sustained fall in indigenous production reduces the economic benefits reaped by the nation, the UK is in the fortunate position of having a range of different sources of oil and gas available to it.

"The market for crude oil is global and the UK's demand can be satisfied by other sources from around the world.

"Meanwhile, around £10 billion has either been, or is being invested, in import projects to bring gas by pipeline to the UK from continental Europe including Norway and the Netherlands and also from elsewhere around the world in the form of Liquified Natural Gas (LNG).  This investment in additional import facilities have greatly increased the UK's security of energy supply."

ENDS

For further information, please contact: Sally Fraser Press & PR Manager Oil & Gas UK 232/242 Vauxhall Bridge Road London SW1V 1AU           Tel:         020 7802 2404/2400 Fax:        020 7802 2401 Email:    sfraser@oilandgasuk.co.uk Pager:    07659 183 999