Oil and Gas Sector Co-investment

Part of the debate – in the Scottish Parliament at on 23 February 2017.

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Photo of Alexander Burnett Alexander Burnett Conservative

At this stage, we believe that the private sector is capable of making the changes. I highlighted the OGTC opening, and we have had the recent transfer of Sullom Voe, to which Mike Rumbles’s colleague alluded, and Shell’s £2.4 billion deal with Chrysaor. As long as asset transfers are happening in the sector, the system is working. When transfers are not happening and we get asset blocking, that is when the OGA has to exert pressure. We will see how that progresses, but I believe that the system is working at the moment and should be allowed to continue to work.

We must continue to make the north-east a hub for excellence in efficiency and knowledge in the sector and we must continue to export our skills across the globe, especially in times of Brexit.