14th Aug 2014 06:01
LONDON (Alliance News) - A dispute between EnQuest PLC and BP PLC over the surging fees at the Sullom Voe terminal in the Shetland Islands has become a test case for the government's Wood Review, The Times reported Thursday.
One of the key recommendations made by Ian Wood in his review was to create a regulator which would intervene in rows between operators over shared infrastructure.
EnQuest has now agreed to form a taskforce with other users of the terminal and BP, the operator, in order to try and reduce the "unsustainable" fees.
EnQuest saw the amount of fees it paid last year more than double, triggering a USD32 million exceptional charge unveiled in its half-year results on Wednesday.
http://www.thetimes.co.uk/tto/business/industries/naturalresources/article4175458.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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