Demand for renewable fuel soars
Headquartered in Finland, refining and marketing company Neste Oil’s €550 million renewable diesel plant in Singapore is almost ready to begin production.
Producing 800,000 tonnes of renewable diesel a year, NExBTL is now 10% away from completion and is due to come online in Q4 of 2010. The plant will begin by utilising palm oil only but has the ability to use other feedstocks, including jatropha oil and animal fat.
When production begins the biodiesel will be exported to Europe and North America.
The president and CEO at Neste Matti Lievonen said: ‘With the construction of our NExBTL renewable diesel plant in Singapore into its final stages we are the world’s leading provider of renewable diesel.’
Along with NExBTL, Neste also owns and operates two other renewable diesel plants in Porvoo, Finland, producing 190,000 tonnes-a-year each. The company’s portfolio is set to expand further still with a €670 million refinery under construction in Rotterdam. When it becomes operational in mid 2011 the plant will produce 800,000 tonnes of renewable diesel annually.
In similar news, Lievonen predicts that the demand for renewable diesel is on the up and Europe alone will consume around 20 million tonnes as more stringent mandates are coming into force across the continent.
‘Globally we’re currently seeing about 10 million tonnes (a year) of demand for renewable biodiesel,’ he said.
Asia is also expected to consume larger amounts of the renewable fuel. By the year 2030 the population is expected to reach 1 billion and this will drive up the demand for energy by 50%.
Producing 800,000 tonnes of renewable diesel a year, NExBTL is now 10% away from completion and is due to come online in Q4 of 2010. The plant will begin by utilising palm oil only but has the ability to use other feedstocks, including jatropha oil and animal fat.
When production begins the biodiesel will be exported to Europe and North America.
The president and CEO at Neste Matti Lievonen said: ‘With the construction of our NExBTL renewable diesel plant in Singapore into its final stages we are the world’s leading provider of renewable diesel.’
Along with NExBTL, Neste also owns and operates two other renewable diesel plants in Porvoo, Finland, producing 190,000 tonnes-a-year each. The company’s portfolio is set to expand further still with a €670 million refinery under construction in Rotterdam. When it becomes operational in mid 2011 the plant will produce 800,000 tonnes of renewable diesel annually.
In similar news, Lievonen predicts that the demand for renewable diesel is on the up and Europe alone will consume around 20 million tonnes as more stringent mandates are coming into force across the continent.
‘Globally we’re currently seeing about 10 million tonnes (a year) of demand for renewable biodiesel,’ he said.
Asia is also expected to consume larger amounts of the renewable fuel. By the year 2030 the population is expected to reach 1 billion and this will drive up the demand for energy by 50%.
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