Deal reached to sell off share in gas plant

A deal has been signed to sell a major interest in the Shetland Gas Plant, as well as fields west of the isles.

TotalEnergies, the plant’s main operator, is selling a 20 per cent share of the plant and the Greater Laggan area fields to Kistos Energy Limited.

Interests in several nearby exploration licences are also included in the deal worth over $165 million.

The transaction is subject to the approval of the UK authorities.

The Greater Laggan Area comprises the Laggan, Tormore, Glenlivet, Edradour and Glendronach fields around 140 kilometres west of the isles, at water depths of 300 to 600 metres.

Production from the interest sold to Kistos was about 8,000 barrels of oil equivalent per day in 2021.

Chairman of development at Shetland Islands Council Alastair Cooper said: “It’s a good time to sell with the current high price of gas.

“But, more importantly, the capital injected will hopefully encourage further drilling to secure the longer term future of the plant.

“I suspect the reducing volumes without significant new finds makes the facility less attractive to TotalEnergies.”


Add Your Comment

Add 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 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 If emailing information in confidence please put "Not for publication" in both the subject line and at the top of the main message.

200 words left

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


Get Latest News in Your Inbox

Join the The Shetland Times mailing list to get one daily email update at midday on what's happening in Shetland.