Neste and HELLENIC PETROLEUM Group have entered into an agreement for the commercial distribuito of Neste MY Sustainable Aviation Fuels on flights by Aegean Airlines, the leading air carrier in Greece. HELLENIC PETROLEUM Group, through its subsidiary EKO, will ensure the supply of Neste-produced sustainable aviation fuel (SAF) on AEGEAN flights departing from its Thessaloniki Airport “Makedonia” hub. Flights from Athens International Airport are expected to follow soon, as Neste announced.
This agreement brings together HELLENIC PETROLEUM 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. SAF is recognized globally as the most feasible option to reduce the aviation sector’s carbon emissions in the near term.
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% by 2030, while facilitating airlines and airports to align in a proactive manner with the upcoming European Union 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 its carbon footprint,” commented Konstantinos Panas, HELLENIC PETROLEUM RSSOPP Supply & Sales General Manager
“We are delighted to be working together with HELLENIC 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. Neste is playing its part by increasing SAF production capacity to 1.5 million tons 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,” commented Jonathan Wood, Vice President Europe, Renewable Aviation at Neste.
Neste MY Sustainable Aviation FuelTM – the Finnish company claims – is produced 100% from sustainably-sourced, renewable waste and residue raw materials, such as used cooking oil and animal fat waste. In its neat form and over the life cycle, Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80% (Calculated with established life cycle assessment, LCA, methodologies, such as CORSIA methodology) compared to fossil jet fuel use.