Essar Energy Transition to deliver £1.9 billion in annual economic value and create a additional 5000 jobs by 2035 following major investment programme
Essar Energy Transition today: a cornerstone of UK energy security
- Supplies 18% of the nation’s transport fuels and 12.5% of its jet fuel, delivering security and resilience for the UK economy
- In FY2025, supply chain spend reached £471 million (£426 million in the UK) in 2025, stimulating activity across dozens of sectors and supporting almost 5,000 direct, indirect and induced jobs
- £4.2 billion in VAT and fuel duty collected on behalf of HMRC – 13% of all UK fuel duty receipts
Essar Energy Transition tomorrow: a major driver of economic growth and decarbonisation
- Future projects to deliver £1.9 Billion in annual economic value (GVA) to the UK by 2035
- Supporting nearly 10,000 direct, indirect and induced jobs across all EET business lines by 2035
- £4.3 Billion energy transition pipeline, with over £1 Billion nearing Final Investment Decision (FID)
STANLOW, UK – 11 May 2026 – Essar Energy Transition today publishes 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 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 energysecurity, supplying 18% of road transport fuel and 12.5% of all UK jet fuel demand (25% of jet fuel demand from airports outside of Heathrow), while supporting 50% 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% of all VAT receipts and 13% 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% 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 roll out 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 across all Essar Energy Transition business lines. This “virtuous circle” of investment is already underway, with 90% of current suppliers UK-based and 40% of orders placed within the North West.
However, Stanlow currently faces a competitive disadvantage. Domestic carbon taxes penalise British production while high-carbon foreign 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.
ENDS
Click here for the Summary document
Media contacts
Michelle Lewis, Chief Communications Officer, Essar Energy Transition:
michelle.lewis@eetfuels.co.uk / 07805 854169
Peter Ogden, Sodali & Co:
peter.ogden@sodali.com / 07793 858211
Notes to editors
Essar Energy Transition CURRENTLY DELIVERS:
High-Value Jobs
- In 2025, the Stanlow Refinery supported 4,917 jobs directly, indirectly and induced
- The average Essar Energy Transition annual salary is £69,000 – double the national average
- Refinery average annual salary is £100,000 – triple the national average
Sovereign Energy Resilience and Security
Essar Energy Transition delivers 18% of the UK road transport fuel and 12.5% of all UK jet fuel demand (25% of jet fuel demand from airports outside of Heathrow).
- 50% of the UK’s total inorganic chemicals industry (1,100 jobs) rely on feedstocks produced from Stanlow
- Over 90% of suppliers are UK-based
- £426 million of UK supply chain spend in 2025, generating c. £159 million in indirect GVA
- £55 million delivered in direct UK tax contributions in 2025
- £4.2 billion in VAT and fuel duty was collected by Essar Energy Transition on behalf of HMRC in 2025 – representing 0.7% of all VAT receipts and 13% of all fuel duty receipts collected by HMRC
- Over £1 billion already invested in multiple turnaround maintenance events since 2011
Contribution to the North West
- Over 40% of all purchase orders were raised to North West suppliers
- Six of Essar Energy Transition’s top 10 suppliers are North West-based
- £118 million spent with North West based suppliers, representing 25% of total purchase order spend
- £11.8 million spent in local business rates
- £106,000 spent on community donations in 2025
ESSAR ENERGY TRANSITION IS BUILDING A MAJOR UK OPPORTUNITY TO:
Lead a Global Decarbonisation Blueprint
- Stanlow aims to become the world’s first low carbon process refinery, with up to a 95% reduction in carbon emissions in the 2030s
- Essar Energy Transition’s combined future energy transition projects expect to abate or avoid up to 4.1 million tonnes of CO2
- Planned industrial carbon capture (“ICC”) unit designed to capture around 1 million tonnes of CO2 per year
- Essar Energy Transition is developing 1.35 GW of hydrogen production capacity through its HPP1 and HPP2 projects
- Around 200 MW of hydrogen-ready power generation for Stanlow planned through Essar Energy Transition’s Combined Heat and Power (“CHP”) plant
- Development of a Methanol-to-Jet (“MTJ”) facility to produce up to 200,000 tonnes of advanced Sustainable Aviation Fuel (“SAF”) annually
Lift Long-Term National Value
- By 2035, Essar Energy Transition expects to:
- Deliver £1.9 billion in average annual gross value added
- Deliver 9,576 full time, long term direct, indirect and induced jobs in the UK economy
- Upcoming energy transition projects are expected to directly generate an additional 3,765 construction-related jobs
Generate Record Levels of Investment
- £4.3 billion of total planned investment across Stanlow’s energy transition projects alone, with all projects due for completion by 2035
- £2.3 billion of the total planned project capex expected to be spent in the UK
- Over £1 billion of the total planned investment is nearing Final Investment Decision (“FID”)
About Essar Energy Transition
Essar Energy Transition’s vision is to be a leading producer of low carbon fuels and establish a major energy transition hub in the North-West of England. Essar Energy Transition has planned a total investment of £4.3 billion to develop a range of low carbon energy transition projects in the UK until 2035. Essar Energy Transition’s investment programme will play a key role in accelerating the UK’s low carbon transformation, supporting the government’s decarbonisation policy and creating highly skilled employment opportunities at the heart of the North West.
About FGE NexantECA
FGE NexantECA is a global leader in energy and chemicals market intelligence and strategic consulting, created through the merger of FGE and NexantECA. It provides industry‑leading analytics, forecasts, and advisory services across oil, gas, LNG, petrochemicals, low‑carbon fuels, and sustainable energy, backed by more than 80 years of combined expertise. The organisation supports clients worldwide through comprehensive insights, strategic guidance, and a strong presence across major energy markets.
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