INEOS’s Project ONE, an ethane cracker under construction in Antwerp, Belgium, has reportedly reached the final stage of installation with the arrival of its last large module. Total investment is reported at €4 billion, with an ethylene production capacity of 1.5 million tonnes per year.
Project ONE is designed to be Europe’s lowest-carbon ethane cracker, with emissions reported at less than one-third of the European average for comparable crackers. The final large module arrived at the Antwerp site on August 7, 2026, marking the last phase of construction, with the company reportedly targeting commercial start-up within 2026.
Total investment is €4 billion, with ethylene production capacity of 1.5 million t/y. Emissions are reported at less than one-third of the European average for comparable crackers. The final large module arrived on August 7, 2026.
Amid declining competitiveness of aging crackers and tightening carbon regulations across Europe’s petrochemical industry, INEOS is reported to be strengthening its European ethylene production base through this new low-carbon cracker investment.
The approaching completion of a major new ethane cracker in Europe illustrates that low-carbon-designed new investment continues even amid a broader slowdown in regional petrochemical capital spending. Once commercial operation begins, it could also shift Europe’s ethylene supply structure.
The actual commercial start-up timing within 2026, the pace of ramp-up to full capacity in the initial period, and whether actual carbon emissions performance meets the targeted level (less than one-third of the European average) warrant continued monitoring once confirmed.