Ineos to mothball three chemical plants as high energy costs hit production
The company said the move could affect 1,000 workers and threaten nearly 4,000 more jobs if the pause becomes permanent.
- On September 22, 2026, Ineos began pausing production at its three chemical plants in Hull, with two facilities already ceased and the third halting shortly.
- Ineos chairman Sir Jim Ratcliffe said the firm is "being forced to mothball some of the most efficient plants" in Europe due to "ridiculously high" British gas prices.
- Around 1,000 employees are directly affected, including 245 staff at the Hull sites, while Ineos warned of a potential knock-on impact to a further 3,000 skilled jobs in Humberside.
- These plants produce raw materials for pharmaceuticals, clothing, cosmetics, construction, and military explosives, raising supply chain concerns as operations halt due to soaring energy costs.
- Gas prices reached the highest level since December 2022, largely driven by the US-Israel war in Iran and disruption to supplies through the Strait of Hormuz.
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INEOS shuts Europe’s last major acetyls plants as energy costs soar
INEOS is suspending operations at all three of its major chemical plants in Hull, UK, after energy prices rose to 12 times the level seen in the United States. These three plants are the last remaining world-scale acetyls production facilities in Europe, producing raw materials used across a wide range of critical industries on the continent, including pharmaceuticals, clothing, cosmetics, detergents, construction materials and military explosiv…
A large chemical conglomerate, INEOS, due to high gas prices, will shut down three Acetyl Plants in British Hall, announced by the company.
In the face of the explosion of gas prices, used both as energy and as raw material, the British group said it was forced to suspend the activity of three English sites. A decision that revived the debate on Europe's energy sovereignty, says Isabelle Chaperon, a columnist at the "World Economy" service.
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