Scotland’s chemical sciences sector is well-placed to survive a “shakedown” of the industry in Europe thanks to new investment at Grangemouth’s Ineos refinery, it has been claimed.
Chemical Sciences Scotland chairman Sandy Dobbie said the £300 million pumped into a new gas import plant left the nation in good stead at a time of market change.
He said the “Cinderella” industry plans to grow exports by 50%.
The refinery was the scene of a dispute last year after owners said changes to worker terms and conditions were required if the plant was to avoid closure.
Ineos later confirmed the major investment after unions backtracked on their opposition to the changes.
“The emergence of the Middle East as a major petrochemicals source and the recent US shale gas revolution, which has reinvigorated that country’s manufacturing sector, will accelerate the closure of many of Europe’s refineries that are based on naphtha as they will no longer be competitive against low cost gas-based producers in the Middle East and US,” Dr Dobbie said.
“Fortunately, the Ineos refinery at Grangemouth is one of the few facilities in Europe able to process gas as well as oil feedstock.
“Ineos’s £300m investment to ship low cost gas from the US into Scotland will give us the opportunity to become one of the survivors of the coming European shake-out.”