Neste and HELLENiQ ENERGY Collaborate to Boost the Availability of Blended Sustainable Aviation Fuel in Greece

(Neste) Neste and HELLENiQ ENERGY, one of Southeast Europe's leading energy groups, have collaborated to deliver blended Neste MY Sustainable Aviation Fuel to HELLENiQ ENERGY’s facilities in Thessaloniki. It is the first time that blended sustainable aviation fuel (SAF) is supplied to Greece in bulk using ships for transport.

The delivery of the blended SAF will increase the availability and accessibility of sustainable aviation fuel at airports throughout Greece, providing airlines and passengers a solution to reduce greenhouse gas emissions from air travel. This delivery is particularly timely, coinciding with the summer tourist season, a crucial period for the Greek economy.

SAF has been widely acknowledged as a key lever in helping to achieve aviation’s emissions reduction goals globally. However, one of the challenges facing the industry is the availability of SAF in sufficient quantities. This partnership is a milestone as it marks the first time that SAF is being delivered to Greece in bulk via vessels instead of trucks, which reduces transport emissions. This delivery will be followed by others during the remainder of 2024.

“HELLENiQ ENERGY was the first to ensure the supply of Neste’s sustainable aviation fuel in Greece, already back in 2022. The expansion of the collaboration with Neste is in line with our group’s strategic goal to become a provider of low-carbon energy solutions and to continuously reduce our carbon footprint. Our aim is to facilitate aviation fuel suppliers, airlines, and airports to prepare in a proactive manner for the upcoming European Union SAF mandate targets starting in 2025. This effort started two years ago when our subsidiary EKO began for the first time in Greece supplying AEGEAN aircraft with SAF for flights departing from Thessaloniki Airport “Makedonia”, making it the 7th airport in the world where a SAF-fueled flight was realized. Now, this effort is expanding to the entire industry in Greece with even larger volumes, and at more airports”, said Diomidis Stamoulis, Senior Director Strategic Planning of Industrial Activities & Participations at HELLENiQ ENERGY.

“Sustainable aviation fuel is a readily available solution for reducing the greenhouse gas emissions from air travel. This cooperation with HELLENiQ ENERGY to supply our SAF to Greece not only illustrates our commitment to supporting airlines in the Southeast European region but also the importance of cooperation with ambitious partners to increase SAF availability and adoption. We’re looking forward to further developing our cooperation with HELLENiQ,” said Alexander Kueper, Vice President Renewable Aviation Business at Neste.

Sustainable Aviation Fuel
Sustainable aviation fuel is a renewable aviation fuel providing a more sustainable alternative to conventional, fossil-based jet fuel. Using Neste MY Sustainable Aviation Fuel™ reduces greenhouse gas emissions (GHG) by up to 80%* over the fuel’s life cycle, compared to using conventional jet fuel. Neste’s SAF is made from sustainably sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste. SAF is blended with conventional jet fuel before use and works seamlessly with existing aircraft engines and fueling infrastructure.

*) When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology.

Neste (NESTE, Nasdaq Helsinki) uses science and innovative technology to transform waste and other resources into renewable fuels and circular raw materials. The company creates solutions for combating climate change and accelerating a shift to a circular economy. Being the world’s leading producer of sustainable aviation fuel (SAF) and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, the company aims to help its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.

The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the CDP and the Global 100 lists of the world’s most sustainable companies. In 2023, Neste's revenue stood at EUR 22.9 billion. Read more: neste.com

About HELLENiQ ENERGY

HELLENiQ ENERGY is a leading comprehensive energy group in Southeast Europe. It was founded in 1998 and operates in 6 countries, with a portfolio that spans across the entire energy value chain. In 2023, the Group's Revenue amounted to €12.8 billion, Comparable EBITDA was €1.237 billion, and total investments reached €291 million.

HELLENiQ ENERGY is actively driving energy transformation in all its markets, embracing innovation and developing new initiatives. The company's main goal is to become a leading provider of low-carbon energy solutions, contributing significantly to addressing the causes and impacts of climate change.

HELLENiQ ENERGY is active in the production, supply, and trading of all types of energy, with an increasing focus on clean energy and renewables. Its diversified portfolio in the oil and gas value chain includes refining, supply, and trading of oil and petrochemical products, hydrocarbon exploration & production, and fuels marketing, while rapidly growing in renewable energy. Through JVs and participation, it has a significant presence in the power generation, supply, and trading of natural gas and electricity.

HELLENiQ ENERGY places people at the center of its business strategy, with the main priority of ensuring long-term access to sustainable energy for all. As a major investor, employer, and active member of society, the company has a significant socio-economic footprint in the countries where it operates while also aspiring to be a consistently reliable social partner. Read more: HELLENiQ ENERGY READ MORE