In November 2007, Finland-headed oil refiner and renewable fuels producer Neste Oyj announced its decision to make its largest ever investment in renewable refining and Singapore was chosen as the location for the new refinery. The start-up of the Neste Singapore refinery took place three years later, in November 2010, and, according to Neste, production at the world's largest renewable diesel plant has run smoothly ever since.
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A lot has happened since the beginning of our journey in Singapore. Concern about the climate and the need for sustainable solutions have emerged, and as Neste has been the first global renewable fuels provide to cater to climate concerns, we have become a global leader in renewable fuels. We thank Singapore state, EDB, our business partners and suppliers, and other important stakeholders for the excellent cooperation, trust and support over the years. We are very much looking forward to making the next decade a continued success together with you, said Matti Lievonen, Neste’s President & CEO.
The Singapore refinery produces premium-quality Neste MY Renewable Diesel, which is one of the most advanced and cleanest diesel fuel on the market today. The product’s high quality allows it can be used in existing diesel engines to achieve up to 90 percent less greenhouse gas (GHG) emissions than with fossil diesel.
Singapore with its stable investment environment, skillful employees, excellent infrastructure and proactive collaboration has supported us during the journey. The government of Singapore has played an important role, and the Singapore Economic Development Board has assisted Neste at every stage of the journey, said Lievonen.
Significant climate action
Since 2010 Neste Singapore refinery has produced altogether close to 6 million tons of renewable diesel to power millions of engines globally and enabled many companies and cities to switch to renewable diesel. Many well-known brands, such as Google, the city of San Francisco, and the Superbowl, have been using renewable diesel made in Singapore.
The Singapore government is proud of our decade-long partnership with Neste, and the role of its bio-refinery in Singapore in reducing carbon emissions and combatting climate change. With a growing demand for cleaner fuels globally, we look forward to strengthening our partnership in the years to come, said Chng Kai Fong, Managing Director, Singapore Economic Development Board.
Employing approximately 120 people, Neste Singapore refinery has a capacity of 1.1 million tonnes per annum. It uses a variety of renewable, sustainable raw materials, including waste and residues as well as vegetable oils. Neste Singapore employs approximately 120 people. The refinery’s impact on the Singapore economy goes beyond the direct employment impact, as the company buys services and utilities from a number of local companies.
Neste has a similar-sized facility in Rotterdam in the Netherlands and two renewable diesel units in Porvoo in Finland. Neste’s renewable diesel production capacity totals 2.6 million tonnes annually, and the company is aiming to reach the 3-million-tonne milestone by 2020 and 4 million tonnes by 2022. The main markets for Neste MY Renewable Diesel are Europe and North America.
