Essar Energy Transition unveils landmark in-country value overview report

Stanlow (UK), May 11 (IANS) Essar Energy Transition on Monday published its maiden In-Country Value Overview Report, revealing the scale of the company’s contribution to the UK economy, energy resilience and security, and its pivotal role in the UK’s industrial decarbonisation.

The independent report by FGE NexantECA highlights that while Essar Energy Transition is already a critical fiscal and industrial asset, its transition into a low-carbon energy hub will unlock unprecedented economic value.

By 2035, Essar Energy Transition’s operations are projected to deliver £1.9 billion in annual Gross Value Added (GVA) to the UK economy and support nearly 10,000 long-term jobs.

Deepak Maheshwari, CEO, Essar Energy Transition Fuels, commented: “This report confirms that Essar Energy Transition is a vital national economic engine and, as one of only four remaining UK refineries, a cornerstone of national energy security. We sit at the heart of the North West’s prosperity, supporting nearly 5,000 jobs across the UK economy and directly supporting local families, with our direct workforce salaries double the national average and spending over £400 million annually with British suppliers.”

Prashant Ruia, Chairman of Essar Energy Transition, commented: “Our £4.3 billion investment pipeline is a massive growth opportunity for Britain. By 2035, these projects will generate nearly £2 billion in annual value to the UK and support 10,000 jobs. We are proving the UK can lead the global energy transition without sacrificing its industrial heritage.”

Ruth Herbert, Chief Business Development Officer & Managing Director, Essar Energy Transition, added: “We are demonstrating that decarbonisation doesn’t have to mean deindustrialisation, if there is clarity on policy and timely incentives to enable investment. We urge the government to provide a level playing field on carbon taxes for domestic fuel producers and importers and support decarbonisation infrastructure in the North West, recognising the vital role we play today and the enormous opportunity for us to drive the industrial decarbonisation of tomorrow.”

An economic powerhouse in 2025, critical for energy security

As one of only four remaining UK refineries, Stanlow is today a cornerstone of national energy security, supplying 18 per cent of road transport fuel and 12.5 per cent of all UK jet fuel demand (25 per cent of jet fuel demand from airports outside of Heathrow), while supporting 50 per cent of the UK’s inorganic chemicals industry with feedstocks, a sector vital to UK manufacturing.

Beyond keeping the country moving, Essar Energy Transition is a national economic engine to the Treasury. In 2025, the company collected £4.2 billion in VAT and fuel duty, representing 0.7 per cent of all VAT receipts and 13 per cent of all fuel duty receipts.

Essar Energy Transition is also a high-value job generator. In 2025 alone, it supported 4,917 direct, indirect and induced jobs with average salaries of direct employees being double the national average, with supply chain spend of £471 million (£426 million in the UK), stimulating further activity.

A major driver of economic value today and decarbonisation in the future

Essar Energy Transition aims to establish a global blueprint for the energy transition in the North West. By investing in electrification, carbon capture, and low-carbon hydrogen, it will transform Stanlow into the world’s first low-carbon process refinery, reducing emissions by 95 per cent by the 2030s.

Hydrogen, carbon capture and advanced sustainable aviation fuels investments are reliant on government incentives, and we eagerly await government decisions on increasing our access to CO2 transport and storage networks and wider rollout of hydrogen infrastructure in the North West.

The NexantECA report quantifies the massive impact of this transition. Essar Energy Transition’s £4.3 billion investment pipeline, with over £1 billion nearing a Final Investment Decision, will deliver £1.9 billion in annual economic value by 2035, supporting nearly 10,000 jobs across all Essar Energy Transition business lines. This “virtuous circle” of investment is already underway, with 90 per cent of current suppliers UK-based and 40 per cent of orders placed within the North West.

However, Stanlow currently faces a competitive disadvantage. Domestic carbon taxes penalise British production while high-carbon imports enter the UK untaxed. To safeguard national fuel security and thousands of high-value jobs, the Government must include refined products in the UK Carbon Border Adjustment Mechanism (CBAM).

A level playing field is critical to realising the full economic and environmental potential of Essar Energy Transition’s decarbonisation plans.

–IANS

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