UK Gas Prices Force Ineos to Idle Three Chemical Plants

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INEOS is idling three chemical plants in Hull, UK due to rising natural gas prices making operations uncompetitive. These plants are the last remaining world-scale Acetyls units in Europe, crucial for producing raw materials used in various industries including pharmaceuticals and construction.

INEOS is idling three of its plants in the UK as soaring natural gas prices in Europe make operations uncompetitive, the chemicals giant said on Tuesday, warning that with the idling of these plants, Europe is losing its last remaining world-scale Acetyls units. The three plants which are being idled in Hull in the UK are Europe’s last remaining world-scale Acetyls units producing the raw material for a wide range of the Europe’s critical materials including pharmaceuticals, clothing, cosmetics, detergents, construction materials, and…