Finland-headed oil refiner and renewable products producer Neste Oyj has announced that it and Hellenic Petroleum Group (Hellenic Petroleum) have entered into an agreement for the commercial distribution of "Neste MY Sustainable Aviation Fuel" (SAF) on flights by AEGEAN Airlines (AEGEAN), the leading air carrier in Greece.
Last month Star Alliance member AEGEAN announced the launch of its SAF program with longtime partner Hellenic Petroleum s.a, one of the leading energy groups in South-East Europe, for the supply of SAF blend on flights departing from its Thessaloniki Airport “Makedonia” hub with flights from Athens International Airport (AIA) expected to follow soon.
Hellenic Petroleum, through its subsidiary EKO, will ensure the supply of Neste-produced sustainable aviation fuel (SAF) on AEGEAN flights.
The agreement brings together the Group’s expertise in the supply and distribution of jet fuel with Neste’s expertise in the production and supply of SAF to provide safe and reliable supply in Greece.
The agreement is in line with Hellenic Petroleum Group’s strategic goal to become a provider of low-carbon energy solutions and to reduce its carbon footprint by 50 percent by 2030 while facilitating airlines and airports to align in a proactive manner with the upcoming European Union (EU) SAF targets by 2025.
Our cooperation with Neste, a global leader in renewable fuels, is a significant part in the implementation of our strategic plan ‘Vision 2025’ for the energy transformation of our Group. This initiative is one of others to follow for the gradually increased use of sustainable fuels and we are proud to partner with Neste to help AEGEAN and the Greek aviation industry to reduce their carbon footprint, commented Konstantinos Panas, General Manager of Supply & Sales at Hellenic Petroleum.
We are delighted to be working together with Hellenic Petroleum to make our Neste MY Sustainable Aviation Fuel available in Greece and to AEGEAN Airlines. We share the ambition to contribute to reducing the carbon footprint of aviation and are committed to working together to achieve this, commented Jonathan Wood, VP Europe, Renewable Aviation at Neste.
According to Neste, its Neste MY SAF is produced 100 percent from sustainably sourced, renewable waste and residue raw materials, such as used cooking oil (UCO) and animal fat waste.
In its neat form and over the life cycle, Neste MY SAF reduces greenhouse gas (GHG) emissions by up to 80 percent compared to fossil jet fuel use as calculated with established life cycle assessment (LCA) methodologies, such as Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) methodology.
Neste is playing its part by increasing SAF production capacity to 1.5 million tonnes by the end of 2023 – more than the entire aviation fuel demand pre-COVID in Greece. We need to act now – SAF is a key and proven solution with clear climate benefits, and it is already available today, ended Jonathan Wood.
