Essar Energy Transition has released its first-ever In Country Value Overview Report, highlighting its growing contribution to the UK economy, energy security, and the country’s industrial decarbonisation efforts. The report has been independently prepared by FGE NexantECA and shows both the current importance of the business and the future value that will be created as it transitions toward low-carbon energy operations.
The findings show that Essar Energy Transition already plays a key role in supporting the UK’s energy system and industrial base. At the same time, its ongoing transformation into a low-carbon energy hub is expected to generate significant long-term economic benefits. According to the report, by 2035 the company’s operations are projected to contribute around £1.9 billion in annual Gross Value Added (GVA) to the UK economy and support nearly 10,000 long-term jobs across its value chain.
Company leadership emphasised the strategic importance of this contribution. Deepak Maheshwari, CEO of Essar Energy Transition Fuels, stated that the company is a vital part of the UK’s national economic and energy infrastructure. He highlighted that, as one of only four remaining refineries in the country, it plays a critical role in energy security.
He also noted that the business supports around 5,000 jobs across the UK economy, with direct employees earning salaries that are roughly double the national average. In addition, the company spends more than £400 million annually with British suppliers.Prashant Ruia, Chairman of Essar Energy Transition, described the company’s £4.3 billion investment pipeline as a major opportunity for the UK economy. He explained that by 2035, these investments are expected to generate nearly £2 billion in annual value while supporting around 10,000 jobs.
He added that the company is demonstrating that the UK can lead in the global energy transition while still maintaining its industrial strength.Ruth Herbert, Chief Business Development Officer and Managing Director, highlighted the importance of policy support in enabling industrial decarbonisation. She said that decarbonisation does not have to result in deindustrialisation, provided there is clear policy direction and timely incentives.
She also called for a fair competitive environment, particularly regarding carbon taxation, and stressed the need for stronger infrastructure support in the North West to enable large-scale investment in clean energy systems.Today, Essar Energy Transition’s Stanlow refinery is considered a key asset for UK energy security. It is one of the few remaining refineries in the country and supplies around 18% of road transport fuels and 12.5% of jet fuel demand in the UK.
It also provides feedstocks that support approximately 50% of the UK’s inorganic chemicals industry, which is essential for manufacturing and industrial production.The company also makes a major fiscal contribution. In 2025 alone, it is expected to generate around £4.2 billion in VAT and fuel duty for the UK government, accounting for a significant share of national tax revenues from these sources. In addition, it supports nearly 4,917 direct, indirect, and induced jobs, with supply chain spending of approximately £471 million, most of which remains within the UK economy.
Beyond its current operations, Essar Energy Transition is focused on transforming Stanlow into a leading low-carbon industrial hub. Its long-term strategy includes investments in electrification, carbon capture, hydrogen production, and sustainable aviation fuels. The goal is to reduce emissions from operations by up to 95% by the 2030s and establish Stanlow as the world’s first low-carbon process refinery.A significant portion of the company’s investment pipeline is already moving toward execution, with more than £1 billion nearing final investment decisions.
Around 90% of its suppliers are based in the UK, and 40% of procurement activity is concentrated in the North West region, reinforcing its role in regional economic development.However, the report also highlights competitive challenges. The company points out that domestic carbon taxes currently place UK producers at a disadvantage compared to imported high-carbon fuels that are not subject to the same costs.
It argues that including refined products in the UK Carbon Border Adjustment Mechanism (CBAM) would help ensure fair competition, protect domestic jobs, and support the success of decarbonisation investments.Overall, the report positions Essar Energy Transition as both a key pillar of current UK energy security and a major driver of future industrial transformation, linking economic growth with long-term sustainability goals.
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