Neste Oyj and ITOCHU Expand Partnership to Increase Availability of Sustainable Aviation Fuel in Japan
Neste and ITOCHU Corporation have expanded their partnership to increase the availability of Sustainable Aviation Fuel (“SAF”) in Japan. Under the expanded partnership, ITOCHU is acting as the Neste MY Sustainable Aviation Fuel™ branded distributor in Japan, making Neste MY Sustainable Aviation Fuel available first at Japan’s two largest international airports; Tokyo Haneda and Narita.
Already in 2020, Neste, ITOCHU and All Nippon Airways started cooperating, establishing an SAF supply chain in Japan allowing the first SAF delivery of Neste in Asia to take place in Japan. Through their expanded partnership, Neste and ITOCHU are able to support other domestic and international airlines and other fuel suppliers at Haneda and Narita International Airports in the future.
“The relationship between Neste and ITOCHU began in the early 2010s when we collaborated on renewable diesel business in California, and we are very excited to deepen the relationship further. Today, the aerospace industry is the one of the pioneers committed to reducing carbon footprint, and we are delighted to contribute to their efforts by increasing the availability of SAF in Japan in partnership with Neste,” said Tsuyoshi Matsumoto, General Manager of ITOCHU’s Petroleum Trading Department. .
“This partnership is a major step forward in bringing our sustainable aviation fuel to the Japanese market. It underscores our commitment to working with the aviation industry to meet its emission reduction targets. We will have a global SAF production capacity of 1.5 million tonnes. per year by the end of 2023. This includes up to 1 million tonnes of SAF production capacity at our Singapore refinery, with the capacity expansion project expected to start by the end of the first quarter of 2023 We stand ready to support the Japanese and wider Asia-Pacific aviation markets in reducing emissions,” said Sami Jauhiainen, Neste Vice President APAC, Renewable Aviation.
Recently, Japan’s Ministry of Land, Infrastructure, Transport and Tourism submitted a roadmap to the Study Group on Reducing CO2 Emissions from Aircraft, recommending a target of 10% replacement of jet fuel consumed by Japanese airlines by 2030 by SAFs. Neste and ITOCHU are committed to supporting the climate emissions reduction targets of the aviation industry and Japan and helping to achieve them through this partnership.
Neste MY Sustainable Aviation Fuel is an immediate solution to reduce the direct greenhouse gas emissions of flight. It can reduce greenhouse gas emissions by up to 80%*, in its pure form and throughout its life cycle, compared to fossil jet fuel. The SAF produced by Neste is made from waste and 100% renewable raw materials from sustainable sources. As an alternative fuel, it can be used with existing aircraft engines and airport fuel infrastructure, without requiring additional investment.
*) Calculated with established Life Cycle Assessment (LCA) methodologies, such as the CORSIA methodology
Vice President, Communications
Further information :
Nested: Please contact the Neste media department, tel. +358 50 458 5076 / [email protected] (weekdays from 8:30 a.m. to 4:00 p.m. EET).
ITOCHU: Please contact via website: https://www.itochu.co.jp/en/inquiry/product/input
Nest in a nutshell
Neste (NESTE, Nasdaq Helsinki) creates solutions to fight climate change and accelerate the transition to a circular economy. We refine waste, residues and innovative feedstocks into renewable fuels and sustainable feedstocks for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and are developing chemical recycling to tackle the challenge of plastic waste. Our goal is to help our customers reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons per year by 2030. Our ambition is to make the oil refinery of Porvoo in Finland the most sustainable refinery in Europe by 2030. We introduce renewable and recycled raw materials such as liquefied plastic waste as refinery raw materials. We are committed to achieving carbon neutral production by 2035 and will reduce the carbon intensity of products sold by 50% by 2040. We have also set high standards for biodiversity, human rights people and supply chain. We have consistently been included in the Dow Jones Sustainability Indexes and the Global 100 list of the world’s most sustainable companies. In 2021, Neste’s turnover amounted to 15.1 billion euros. Find out more: www.neste.com
ITOCHU Corporation in a nutshell
The history of ITOCHU Corporation dates back to 1858 when the company’s founder, Chubei Itoh, started linen trading operations. Since then, ITOCHU Corporation has evolved and grown for 160 years. With around 100 bases in 62 countries, ITOCHU Corporation, one of the leading sogo shosha, engages in domestic trade, import/export and overseas trade of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general commodities, real estate, information and communications technology and finance, as well as business investment in Japan and the foreigner.