25-09-2023
Mitsui to invest in renewable diesel and SAFproduction business in Portugal
Mitsui & Co Ltd, has agreed to invest in a renewable diesel (hydrotreated vegetable oil/HVO) and sustainable aviation fuel (SAF) production business operated by Galp SGPS, S.A. Portugal's biggest energy company. A joint venture company will be established once necessary authorities' clearances are obtained. Galp will own 75% of its shares and Mitsui 25%.
Produced from waste residues feedstock such as used cooking oil and animal fats, HVO is used as an alternative diesel fuel for vehicles with internal combustion engines, such as buses and trucks. SAF is an alternative jet fuel for use in aircrafts. Both are environmental-friendly fuels with lower greenhouse gas emissions. Demand for HVO and SAF is expected to be growing, especially in Europe where policies to encourage the use of biofuels are introduced.
As the only oil refiner in Portugal, Galp has been operating the Sines Refinery since 1978. The Lisbon-based company has been stepping up its investment in the energy transition field and pursuing fuel conversion initiatives. This project will involve the construction of facilities within the Sines Refinery, which are capable of being switched between HVO and SAF production modes. With the first HVO production in the end of 2025, the commercial operation date of the project is expected in 2026, and it is anticipated that the facilities will also be used to produce SAF, demand for which is expected to increase over the long period of time. In addition to its investment in the production business, Mitsui will also take responsibility for the overall value chain, including the procurement of feedstocks, primarily from Asia, and the sales of the products.
News Category:
-
An Introduction to the Sinopec Closed Coke Handling System
(Webiner) - The Sinopec Closed Coke Handling System (S-CCHS) is a safe and eco-friendly closed petroleum coke removal, conveying, and storage system with remote intelligent ...
19-12-2023
-
NEXTCHEM awarded contract or bio-waste to SAF facility
MAIRE S.p.A. announces that NEXTCHEM, through its subsidiary MyRechemical, leading the Waste-to-Chemical segment, has been selected by DG Fuels Lousiana to provide the ...
06-12-2023
-
Lummus and NET Power sign agreement for heat transfer equipment
Lummus Technology announced it has signed a Strategic Supply Agreement with NET Power Inc, to design and supply recuperative heat exchangers for NET Power's near-zero ...
06-12-2023
-
Lummus and Toshiba partnership for advanced carbon capture solutions
Lummus Technology, a global provider of process technologies and value-driven energy solutions, and Toshiba Energy Systems & Solutions Corporation announced a master ...
05-12-2023
-
Fluor announces contracts from Dow for Net-Zero Ethylene Cracker and derivatives complex
As previously announced and recognized in the third quarter on a confidential basis, Fluor Corporation was awarded two contracts from Dow for the construction of the ...
04-12-2023
-
Cosmo Oil and Yokogawa start exploring possibilities for refinery digitalization
Cosmo Oil Co Ltd, and Yokogawa Electric Corporation are pleased to announce that Cosmo Oil and the Yokogawa Electric subsidiaries Yokogawa Solution Service Corporation ...
01-12-2023
-
Dow approves Path2Zero project
Dow today announced that its board of directors has declared Final Investment Decision on the Company's Fort Saskatchewan Path2Zero investment to build the world's first ...
28-11-2023
-
Neste granted investment for its green hydrogen project at the Porvoo refinery
In November 2023, the Ministry of Economic Affairs and Employment in Finland granted Neste an energy investment aid of EUR 1.96 million for heat recovery from the green ...
28-11-2023
-
Clariant and Conser further strengthen partnership in the maleic anhydride industry
Clariant, a sustainability-focused specialty chemical company, today announced that it has signed an agreement with Conser, part of MAIRE Group, for the supply ...
28-11-2023
-
Yokogawa and FPT Software ink global partnership to advance DX solution offerings
Yokogawa Electric Corporation, a leading provider of industrial automation and test and measurement solutions, and FPT Software Company Limited, a global technology and ...
28-11-2023