Ineos idles Europe’s last remaining world-scale acetyls complex
🏭 Ineos announced on September 22 that it is idling three acetyls plants at Saltend in Hull. Two plants have already stopped operating, while the third is expected to shut within days. The facilities are being mothballed rather than permanently closed.
⚡ Natural gas is used both as an energy source and as a feedstock for acetyls production, making Europe’s cost gap with the US increasingly significant. Ineos says European gas prices remain several times higher than in the US, weakening the region’s industrial competitiveness.
🌍 If these conditions persist, Europe could become more dependent on imports of acetic acid, acetic anhydride and ethyl acetate from the US or Asia. Ineos is considering direct US LNG purchases or waiting for gas prices to fall before assessing a restart.
#EuropeanIndustry $BNB
🏭 Ineos announced on September 22 that it is idling three acetyls plants at Saltend in Hull. Two plants have already stopped operating, while the third is expected to shut within days. The facilities are being mothballed rather than permanently closed.
⚡ Natural gas is used both as an energy source and as a feedstock for acetyls production, making Europe’s cost gap with the US increasingly significant. Ineos says European gas prices remain several times higher than in the US, weakening the region’s industrial competitiveness.
🌍 If these conditions persist, Europe could become more dependent on imports of acetic acid, acetic anhydride and ethyl acetate from the US or Asia. Ineos is considering direct US LNG purchases or waiting for gas prices to fall before assessing a restart.
#EuropeanIndustry $BNB
