Jim Ratcliffe halts production at Hull chemical plants over ‘ridiculous’ gas prices
Ineos is pausing production at three chemical plants in Hull, blaming the UK’s “ridiculously high” gas prices. The company says the sites cannot compete globally despite being among Europe’s most efficient, raising concerns about manufacturing jobs and the wider industrial base.
Production has already stopped at two plants, with the third expected to shut within days; about 240 Ineos employees are directly affected. The company says a permanent closure could threaten 4,000 Humberside jobs, while Ratcliffe claims UK gas is 12 times more expensive than in the US and that overseas replacements would generate higher carbon emissions. The government says it is supporting the sector through £350m of investment and schemes intended to reduce manufacturers’ electricity costs.
- Ineos is mothballing three Hull chemical plants over high UK gas prices.
- Around 240 direct jobs are affected, with 4,000 at risk if closures become permanent.
- The government says support schemes will cut industrial energy costs.