Update: Coronavirus delays Forties shutdown to 2021

INEOS has extended plans to postpone the shutdown of the Forties oil pipeline which transports to shore around 40% of the UK’s oil and gas from the North Sea.

The shutdown for maintenance had been due to occur in June but is now scheduled for Q1 next year. Last week, it had pushed back the shutdown until August this year but the majority of its customers wanted a further delay.

The decision was taken following an “overwhelming desire” from customers to delay the project and the need to avoid bringing people together during the coronavirus pandemic.

Ineos said: “In making this announcement it is hoped that customers (and the supply chain) will now be able to plan with greater certainty.”

The company said previously that it is mindful of the benefits of completing the work when it comes to the future operation of the pipeline, however it also recognises the importance of maintaining a flow of oil and gas.

Ineos bought the 500 km pipeline system from BP in 2017 as part of a US$250m deal. Last year it committed to modernise the system as part of a £1bn (US$1.2bn) investment in the UK.