INEOS Marks 50 Years of Forties Pipeline, Warns UK Risks Losing Energy Independence
INEOS marked the 50th anniversary of the Forties Pipeline System, calling it a cornerstone of UK energy security while warning that high taxes and restrictive energy policies risk undermining future investment in the North Sea.
(P&GJ) — INEOS is marking the 50th anniversary of the Forties Pipeline System (FPS), one of the UK’s most important pieces of energy infrastructure, while warning that government tax and regulatory policies are undermining investment in domestic oil and gas production.
Officially opened by Queen Elizabeth II on Nov. 3, 1975, the 169-mile pipeline network helped transform Britain’s energy landscape, carrying crude oil and natural gas liquids from North Sea fields to the Kinneil Terminal at Grangemouth. The system helped the UK achieve energy self-sufficiency, reducing reliance on imported oil and fueling homes, transport, and industry for decades.
Over the past five decades, the FPS has transported more than 9.6 billion barrels of oil and gas liquids from over 80 North Sea fields, at times handling as much as 40% of total UK oil production. It remains designated as Critical National Infrastructure, supporting tens of thousands of jobs across Scotland and the wider UK.
Since acquiring the system in 2017, INEOS has invested more than £500 million to modernize facilities and extend the life of the FPS into the 2040s. However, the company said government policies such as the Energy Profits Levy (EPL) — which raises the total tax burden on North Sea producers to 78% — are discouraging investment and increasing the UK’s dependence on imports.
“The Forties Pipeline is a national treasure,” said Andrew Gardner, CEO of INEOS FPS. “For fifty years it has quietly done its job, safely, reliably, and efficiently, carrying the oil and gas that keeps the UK moving. We should never underestimate the value of home-grown energy. North Sea oil and gas have created enormous prosperity for Britain, and they will remain essential long beyond 2050.”
INEOS said that while it supports the transition to cleaner energy, reliable domestic oil and gas production will continue to play a vital role in maintaining energy security and affordability.
The company’s statement described the Forties Pipeline as a symbol of British “ingenuity and resilience,” underscoring the importance of a balanced energy policy that safeguards infrastructure investment and national prosperity.