Ineos pauses UK plant production citing gas prices 12 times higher than US levels
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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.
Between September 18-20, 2026, billionaire Ineos founder Sir Jim Ratcliffe, co-owner of Manchester United, told the BBC that the UK is in decline due to high taxes and immigration. The comments drew criticism from politicians and fan groups, with one minister noting that Ratcliffe had become a tax resident in Monaco in 2018.
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.
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