Industry

IGas quits Mayfair HQ in cost cutting

IGas has given up its headquarters in London’s Mayfair, the exploration and production company formally announced today.

Location of IGas former headquarters (red marker). Google Maps

The office, in Down Street, was near the London Hilton, Athenaeum and Four Seasons hotels, between Green Park and Hyde Park.

Notices to Companies House said that from today the registered office of companies in the IGas group would move to the Welton Gathering Centre, near Lincoln.

IGas operates the gathering centre, where oil, gas and water produced from fields in the Welton area, are separated. Oil is then transported to Conoco Immingham by road tanker and gas is used to generate electricity and exported to the national grid.

Welton Gathering Centre. Photo: IGas

The Welton site is also listed as the registered address for GT Energy UK Limited. This is the geothermal company acquired by IGas last year with plans for a deep heat scheme in Stoke-on-Trent.

IGas told investors in June 2020 that it would give up the lease on the London office at the earliest opportunity.

The decision was part of a £1m cost-cutting that included redundancies, reductions in benefits and the replacement of part of board salaries with share options.

In November 2020, Cuadrilla formally announced it was changing its registered office from Bamber Bridge near Preston to services offices at Manchester Airport.

1 reply »

  1. See that parts of the Civil Service will be moving out of London shortly as well.

    An optimist might expect a cost cutting there-but likely to be disappointed.

    But good for Igas, helping the levelling up!

Add a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

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