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INEOS Proposed Cracker Plant for Antwerp

December 01, 2021

Tom Sanzillo and Suzanne Mattei

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Key Findings

The Project ONE ethane cracker plant project faces weak profit margins, decreased demand from increased recycling and a strengthening of existing plants as companies invest in upgrades.

INEOS Group's proposed Project ONE ethane cracker plant in Antwerp, Belgium, is a risky venture in an already well-supplied market. If approved, the project would appear to be at odds with the European Union's aggressive long-term goals to decrease fossil fuels in plastics production and to curb single-use plastics.

Tom Sanzillo

Tom Sanzillo is Director of Financial Analysis for IEEFA. He has produced influential studies on the oil, gas, petrochemical and coal sectors in the U.S. and internationally, including company and credit analyses, facility development, oil and gas reserves, stock and commodity market analysis, and public and private financial structures.

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Suzanne Mattei

Suzanne Mattei is an attorney with over 30 years of experience in public interest law and policy. She has analyzed the Federal Energy Regulatory Commission’s policies related to interstate pipeline approval.

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