Global Energy Group takes control of Nigg Oil Terminal
- Business & Finance
Global Energy Group has reached an agreement with Repsol Sinopec Resources UK and has taken over the long-term operation of the Nigg Oil Terminal jetty under a new lease with Crown Estates Scotland.
Global Energy Group reached an agreement with Repsol Sinopec to take over the long-term operation of the Nigg Oil Terminal jetty in October 2019.
The deal came into effect on February 28, 2020. Under the agreed deal, the jetty will be operated as an extension to the Port of Nigg, which has already established itself as a deep-water port servicing oil and gas, offshore renewables and the wider energy markets, Global Energy Group said on Tuesday.
The additional ultra-deep water berth extends the capability of the port and provides additional flexibility in berthing options during what promises to be a period of high activity at the port. The new quay is already attracting interest from a number of potential customers, and Global Energy Group is hopeful that the first customers will be using the jetty in the very near future.
Repsol Sinopec will continue to operate the main oil terminal and to work towards final decommissioning of its facilities.
Commenting on the deal, Roy MacGregor OBE, Global Energy Group’s Chairman, said: “I am delighted that we have finally concluded the deal and are now in possession of a key asset within the Cromarty Firth which may otherwise have been decommissioned. The Nigg Jetty is a valuable addition to our facilities and not only increases our deep-water quayside capacity, but also enables us to consider bringing new business lines to the Port, creating further employment for the area.”
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