Rising energy prices have put one of Britain's last major chemical plants at risk of closure. Huntsman Corporation, which operates facilities across the US, Europe, Southeast Asia, and the Middle East, has warned that its UK site may shut down if energy costs remain at current levels for the next three months.
Unlike its American operations, Huntsman's UK and European sites are acutely exposed to international gas markets, where prices have surged to their highest point since Russia's invasion of Ukraine. The company had already cut nearly 10% of its global workforce last year—approximately 500 jobs, with the largest share in Europe—and closed seven facilities due to high energy costs.
In the past decade, the UK has lost its last domestic producers of ammonia (a core fertilizer) and sulfuric acid (key for explosives), raising concerns about sovereign capability in food production and defense manufacturing. A Huntsman representative called the situation "self-inflicted," noting that successive governments had not done enough to reduce industrial energy bills.
