Neste Corporation, Press Release, 16 February 2022 at 12.00 p.m. (EET)
Photo: Thorsten Lange, Executive Vice President of Renewable Aviation at Neste and Mr. Tatsuya Tanaka, Managing Director of ITOCHU Petroleum Co., (Singapore) Pte. Ltd.
Neste and ITOCHU Corporation have expanded their partnership to grow the availability of sustainable aviation fuel (‘SAF’) in Japan. In the expanded partnership, ITOCHU acts as the branded distributor of Neste MY Sustainable Aviation Fuel™ in Japan making Neste MY Sustainable Aviation Fuel available first at the two largest Japanese international airports; Tokyo Haneda and Narita.
Already in 2020, Neste, ITOCHU and All Nippon Airways started cooperating, establishing a SAF supply chain in Japan enabling Neste’s first SAF delivery into Asia to take place in Japan. Through their expanded partnership, Neste and ITOCHU are able to support other domestic and international airlines as well as other fuel suppliers at Haneda and Narita International Airports, going forward.
“The relationship between Neste and ITOCHU started in early 2010s when we collaborated on renewable diesel business in California, and we are very pleased to deepen the relationship further. Now, the aviation industry is one of the frontrunners committed to reducing carbon footprint, and we are excited to contribute to their efforts by increasing availability of SAF in Japan in partnership with Neste,“ says Tsuyoshi Matsumoto, ITOCHU’s general manager of Petroleum Trading Department.
“This partnership is a major step forward in making our sustainable aviation fuel available in the Japanese market. It underlines our commitment to working together with the aviation industry to achieve its emission reduction targets. We will have a global SAF production capacity of 1.5 million tons per annum by the end of 2023. That includes up to 1 million tons of SAF production capacity in our Singapore refinery, with the capacity expansion project scheduled for start-up by the end of the first quarter of 2023. We are ready to support the Japanese and broader Asia-Pacific aviation markets in driving emission reductions,” says Sami Jauhiainen, Neste’s Vice President APAC, Renewable Aviation.
Recently, the Ministry of Land, Infrastructure, Transport and Tourism of Japan submitted a roadmap to the Study Group on CO2 reduction from aircraft, recommending a target of replacing 10 percent of jet fuels consumed by Japanese airlines by 2030 with SAF. Neste and ITOCHU are committed to supporting the aviation industry’s and Japan’s climate emission reduction targets and contribute to reaching them with the partnership.
Neste MY Sustainable Aviation Fuel is an immediate solution for reducing the direct greenhouse gas emissions of flying. It can reduce greenhouse gas emissions by up to 80%*, in its neat form and over the life cycle, compared to fossil jet fuel. Neste-produced SAF is made from sustainably sourced, 100% renewable waste and residue raw materials. As a drop-in fuel it can be used with existing aircraft engines and airport fuel infrastructure, requiring no extra investment to them.
*) Calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology
Vice President, Communications
Neste: Please contact Neste’s media service, tel. +358 50 458 5076 / firstname.lastname@example.org (weekdays from 8.30 a.m. to 4.00 p.m. EET).
ITOCHU: Please contact via the website: https://www.itochu.co.jp/en/inquiry/product/input
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2021, Neste's revenue stood at EUR 15.1 billion. Read more: neste.com
ITOCHU Corporation in brief
The history of ITOCHU Corporation dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU Corporation has evolved and grown over 160 years. With approximately 100 bases in 62 countries, ITOCHU Corporation, one of the leading sogo shosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas.