Neste and Shell announce deal to increase the supply of sustainable aviation fuel
Finland-headed oil refiner and renewable fuel producer Neste Oyj and Shell Aviation, a subsidiary of global oil major Royal Dutch Shell plc have announced that the companies have entered into a sustainable aviation fuel (SAF) supply agreement with effect from October 2020.
The agreement anticipates increasing desire from airlines to reduce emissions and will significantly increase the supply and availability of SAF for the aviation industry.
To tackle climate change and reach net zero emissions, the aviation industry must act fast. Shell Aviation aims to reduce the carbon intensity of the fuels we sell which includes selling more lower-carbon fuels like sustainable aviation fuel, over time. Today’s agreement with Neste will help Shell Aviation customers to lower their emissions and demonstrates the kind of progress we can deliver by working in collaboration with others, said Anna Mascolo, President, Shell Aviation.
The deal brings together Neste’s expertise in the production and supply of renewable diesel and SAF with Shell Aviation’s world-class credentials in supplying and managing fuel around the world.
The aviation industry is essential for global business, generating growth, and facilitating economic recovery. It also enables people to travel and goods to be transported rapidly across the globe. But if we are to address aviation-related emissions, we need to utilize all the available solutions. SAF offers the only viable alternative to fossil liquid fuels for powering commercial aircraft with an immediate potential to reduce aviation’s greenhouse gas emissions. We are fully committed to supporting the aviation industry, its customers and corporates with their emission reduction targets, said Thorsten Lange, EVP for Renewable Aviation at Neste.