Bacton gas terminal
IOG completes UK gas reception facilities
Producer set to bring on new UKCS volumes amid yet another record-breaking price spike
AIM-listed gas firm IOG has finished work on its Saturn Banks reception facilities at the UK’s Bacton gas receiving terminal and started ‘backgassing’—pressurising the Saturn Banks pipeline with gas reverse-flowed from the terminal. The firm aims to bring first volumes from Phase 1 of its Southern North Sea gas project onstream in around a week, just as the UK gas market hits new highs. The Ice NBP front-month contract had returned to sub-200p/th levels from a pre-Christmas peak above 450p/th a fortnight ago. But Russia’s invasion of Ukraine and a robust Western response to its aggression have stoked fears over the potential interruption to Europe’s supplies through the east, owing either to
Also in this section
17 June 2025
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
17 June 2025
Sound development planning is essential in this diverse and rapidly evolving region
16 June 2025
The launch of the much-needed yet oft-delayed Africa Energy Bank remains shrouded in questions and funding constraints, but its potential is clear
16 June 2025
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
