On 2026-09-22, billionaire Sir Jim Ratcliffe suspended production at three Ineos chemical plants in the UK, citing natural gas prices that are twelve times higher than in the United States. The facilities produce raw materials for pharmaceuticals, textiles, cosmetics, and military explosives.
Sir Jim Ratcliffe's Ineos announced on 22 September 2026 that it would mothball three major chemical manufacturing sites in Hull, United Kingdom, citing a sharp increase in natural gas prices that nearly doubled since July. The closure affects production capacity in the region and reflects broader industrial vulnerability to energy costs.