22nd September 2018
Established 1872. Online since 1996.

Energy group to enter liquidation

0 comments, , by , in News

Trade group Energy North which has several members in the isles has announced it is to go into liquidation.
The not for profit organisation existed to promote the interests of members in the oil and gas and renewable energy sectors across the north of Scotland and the islands.

Originally formed as the North of Scotland Industries Group it had more than 200 members at its peak.
Energy North said the board decided to enter liquidation on 7th August as a result of declining income, a fall in membership and “significant uncertainties affecting the sector which are expected to impact further upon future sources of funding”.

It held events in Shetland and gave local businesses the opportunity to meet larger energy companies and lobbied the Scottish and UK government. Members of the group paid varying annual fees from £120 to £1,820.

Gremista-based Ocean Kinetics was one of its members. Managing director John Henderson, said it was a useful group and was surprised by their financial problems. “It was a bit of a shame because they [Energy North} did trade missions”, he said.

Energy North chairman Sidney Johnston said: “We very much regret that it is not possible in the current climate for the organisation to continue its valuable work on behalf of our members across the energy sector. We will now work with the liquidators during this difficult period.

“We remain confident that the energy sector in the north will recover strongly from the current challenges, as it has done in the past, drawing upon the outstanding people, facilities and resources that our region has to offer.”

Your Comment

Please note, it is the policy of The Shetland Times to publish comments and letters from named individuals only. Both forename and surname are required.

Comments are moderated. Contributors must observe normal standards of decency and tolerance for the opinions of others.

The views expressed are those of contributors and not of The Shetland Times.

The Shetland Times reserves the right to decline or remove any contribution without notice or stating reason.

Comments are limited to 200 words but please email longer articles or letters to editorial@shetlandtimes.co.uk for consideration and include a daytime telephone number and your address. If emailing information in confidence please put "Not for publication" in both the subject line and at the top of the main message.

This site uses Akismet to reduce spam. Learn how your comment data is processed.