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
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
