delete AMENDMENTS TO THE PETROLEUM ACT 1998
The Petroleum Act 1998 (Third Party Access) Order 2007 amends the Petroleum Act 1998 to establish a third party access regime for petroleum infrastructure (pipelines, storage facilities). It came into force the day after being made. The Schedule contains the specific amendments implementing mandated access rights for competitors to use incumbent-owned petroleum infrastructure.
This Order imposes government-mandated third party access on petroleum infrastructure owners, restricting their property rights and ability to negotiate commercial terms. Such regimes, derived from EU directives, deter investment in critical energy infrastructure by preventing owners from fully capturing returns on their capital. A competitive market would allow voluntary commercial arrangements rather than compulsory access mandates. Post-Brexit, Britain has the opportunity to reassess whether these EU-derived access obligations serve British interests or merely protect incumbents' rivals at the expense of infrastructure investment.