In November, INEOS proudly marked 50 years of the Forties Pipeline System (FPS), a feat of British engineering and ingenuity that has quietly powered the nation’s economy for half a century.
INEOS took the opportunity to celebrate this landmark achievement with its staff, customers and contractors in the majestic surroundings of Edinburgh castle.
Officially opened by Her Majesty Queen Elizabeth II in 1975 in Aberdeen, the FPS transformed Britain from an energy-dependent nation into one of self-sufficiency, fuelling homes, transport, and industry for generations. And it transformed the economy and the way of life for those who live and work in Aberdeen and the Northeast of Scotland.
Since induction, FPS has safely transported over 9.6 billion barrels of oil and gas liquids from more than 80 North Sea fields to Grangemouth. Today, FPS supported by its workforce in Aberdeen, Grangemouth and Dalmeny remains Critical National Infrastructure, supporting tens of thousands of jobs across Scotland and the wider UK, and serving as the backbone of domestic manufacturing and supply chains.
During the celebrations Andrew Gardner, the CEO of INEOS FPS, took the opportunity to reflect on the success story of the UK’s North Sea oil and gas industry, one that has contributed more than £500 billion in taxes over five decades.
However, he added that the current Government policy, with tax rates at 78% under the Energy Profits Levy, is strangling investment. Projects are being shelved and Britain is becoming increasingly reliant on costly imports. Every barrel of oil and gas we fail to produce here in the North-east means more money flowing overseas, weakening our economy and jeopardising energy security.
Policymakers must recognise the strategic importance of home-grown energy. The Forties Pipeline is more than just steel and valves. It is the lifeblood of an extensive supply chain. It’s jobs, both direct and indirect. And it underpins the economy of Aberdeen and the wider Northeast of Scotland. Even as we transition to cleaner energy, oil and gas will remain essential. Strong domestic production means secure supply, thriving communities and a competitive economy.
For 50 years, FPS has delivered for Britain. With the right policies, it can continue to do so for generations. We need to come together, with one voice, to ensure that this becomes a reality.