INEOS idles Europe's last world-scale acetyls plant

The three world scale chemical intermediate plants are the last remaining acetyls units in Europe, with all others having already closed due to uncompetitive energy costs.

In a statement, INEOS said that it has taken the difficult decision to mothball all three of the units until further notice. Two of the plants have already ceased production with the third due to come off line in a few days.

INEOS said that these units are amongst the most efficient in the world and operate at the lowest possible level of CO₂ emissions. The units produce material with a carbon footprint that is two times lower than that produced in the US and eight times lower than Chinese material.

Commenting, Sir Jim Ratcliffe, Chairman of INEOS said: “I’m sure people will find it hard to believe that we are being forced to mothball some of the most efficient plants in Europe but with gas prices now 12 times the level in the US and eight times that of China, we just cannot compete. Not only is the ridiculously high gas price destroying our manufacturing base and the jobs of hard working people on Humberside, it is also massively increasing the environmental burden with replacement products supplied from the US at double the carbon emissions and from China at eight times the emission level. The European regulators need to wake up to the fact that the combination of high energy costs and the additional burden of unsustainable carbon taxes are destroying our European manufacturing base. Ironically this will result in higher CO₂ emissions from less efficient Chinese and US production. The net result of these current policies is to encourage coal based production in China and the wholesale export of jobs to both China and the US.”

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/22092026/ineos-idles-europes-last-world-scale-acetyls-plant/