INEOS Firms the Final Date for Maintenance Turnaround of Forties Pipeline System
The Forties Pipeline System (FPS) of INEOS, supplies around 40 per cent of North Sea Oil and Gas, and links 80 petrochemical assets to mainland. The planned maintenance shutdown of the pipeline was postponed in the first half of the year under stress from oil and gas operators amidst the repercussions faced due to the unprecedented outbreak of Coronavirus. As per a privy source, this shutdown is rescheduled to take place from 27th May 2021 till the end of June. A major reason behind the postponement of turnaround was the plea from several customers as the shutdown would have led to commercial, financial, and operational issues. Moreover, the disrupted flow of oil and gas commodities would have caused a significant increase in its prices in times of the economic crisis being faced due to the global pandemic. Various firms dependent on the supplies from the pipeline have stated that critical projects were also pushed back due to the postponed maintenance turnaround.