Ineos halts production at Hull chemical plants over UK gas prices

Ineos has paused production at its three Hull chemical plants, blaming high UK gas prices for making the sites uncompetitive.

• Ineos said on Tuesday it would mothball the three Humberside sites, with production already stopped at two and the third due offline within days.
• The company said up to 4,000 jobs are affected across the area, including 1,000 direct employees and 3,000 in the supply chain.
• Ratcliffe said UK gas prices are 12 times higher than in the US and eight times more expensive than the coal used by Chinese competitors.
• A government spokesperson said ministers launched a £350m co-investment scheme and trade measures to support the UK chemicals industry.