Exclusive: Treasury paying £400m decommissioning relief to Japanese giant Mitsubishi
ByAllister Thomas
Decommissioning work began on the Greater Dunlin Area in 2015 and is due for completion in 2024.
The UK Government has agreed to pay up to £400million in oil and gas decommissioning relief to one of Japan’s largest trading companies.
Mitsubishi is receiving the pay-out to assist with shutting down the Greater Dunlin Area, nearly 100miles north-east of Shetland.
The £400m is going to MCX Osprey and MCX Dunlin, Mitsubishi’s subsidiaries, but the cost ultimately lies with Mitsubishi Corporation which posted revenues of £83.8bn in the nine months to December 2018.
