the government to ensure competitive natural gas prices, a revised emissions trading system, and trade policies that promote manufacturing in the United Kingdom.
According to Ineos, the company’s emissions at Grangemouth have decreased by about 50% in the last 20 years, with the goal of reaching net zero emissions by 2050.
However, it cautioned that the expense of purifying ethanol in the UK was equal to a 10% price rise due to the absence of carbon reduction programs in other nations.
In the last five years, ten large chemical facilities have closed in Britain. There are only two synthetic ethanol facilities left in Europe, and Ineos’s unit at Grangemouth was one of them.
The chairman of Ineos Energy, Brian Gilvary, cautioned in December that the UK was too “negative” for further energy investments.
“The country’s current tax regime, its over-regulation, and the negative political attitude towards oil and gas are barriers that would deter any investor now,” Mr. Gilvary said in The Telegraph.
