UK MOD considers sale of aviation fuel network that supplies 40 pct of UK aviation fuel

Posted: May 22, 2012 in Airlines, Aviation & Airports (General News), Gatwick, Heathrow, Stansted
Tags: , , , , , ,

[Reuters]  Britain’s Ministry of Defence (MoD) said on Tuesday it was considering selling its 2,500-kilometre long aviation fuel network to generate income for the government looking to reduce its debt burden.

 Britain's Ministry of Defence (MoD) said today it will launch tender if sale plan approved.  Photo: Wikipedia

Britain’s Ministry of Defence (MoD) said today it will launch tender if sale plan approved.
Photo: Wikipedia

The ministry launched a consultation on the sale on Tuesday and said it would call for an official tender if it decided to go ahead with the sale, a spokeswoman said.

“The benefits of selling GPSS (Government Pipeline and Storage System) include: generating a capital receipt for government; enabling increased private sector investment in the pipeline in order to increase the resilience of the system; and allowing commercial development,” the ministry said in a legislation document.

The spokeswoman said the ministry could not speculate on how much the network was worth.

The legal framework needed for the sale passed a first hurdle on Tuesday when the publication of the Draft Energy Bill proposed to allow the sale.

The final Energy Bill is expected to pass through Parliament in……

Read the rest of this story at Reuters…..


Reuters
Tue May 22, 2012


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