Austria-headed integrated oil, gas, and petrochemicals major OMV AG has announced that it is investing around EUR 200 million in its Schwechat Refinery outside Vienna so that it will be able to substitute large quantities of fossil diesel with renewable diesel in an innovative co-processing approach.
Operating three inland oil refineries in Europe, OMV says that it is committed to the Paris Agreement and EU climate targets and has set itself ambitious climate goals. OMV has pledged to reach net-zero emissions in operations (Scope 1 and 2) by 2050 or sooner.
On its long-term path to net zero, OMV has set concrete interim targets: By 2025, at least 60 percent of the product portfolio should consist of natural gas and low/zero-carbon products.
The investment in the Schwechat site for processing biofuels contributes to the goal of reducing the carbon intensity of the OMV product portfolio (Scope 3) by at least 6 percent compared to 2010.
With this process converting up to 160 000 tonnes of liquid biomass, the hydrogenated vegetable oil (HVO) should lead to an annual reduction in OMV’s carbon footprint of up to 360 000 tonnes of fossil carbon dioxide (CO2). The product meets the highest quality standards and can be readily used in any type of diesel-powered vehicle.
The technology applied is not limited to vegetable oils – waste products such as used cooking oil (UCO) and advanced feedstocks are also possible and will be used based on availability.
The conversion in the OMV Schwechat Refinery makes a key contribution to more sustainable mobility and is another step in achieving our climate targets. At the same time, we are providing economic stimulus in Austria with this investment of almost EUR 200 million, said Thomas Gangl, Chief Downstream Operations Officer at OMV.
OMV expects demand for its hydrogenated biofuels to increase ten-fold by 2030. OMV’s decision to invest in its own production lines is part of the transformation process. With this, OMV is one of the first companies in Europe to engage in co-processing on an industrial scale.
