Neste Oil Corporation
Press Release
16 October 2014 at 1.00 p.m. (EET)
Neste Oil's biopropane will be sold to SHV Energy
Neste Oil and SHV Energy have agreed that SHV Energy will market and sell biopropane to be produced at Neste Oil's Rotterdam refinery. The agreement to supply some 160,000 tons of biopropane over a four-year period is the first of its kind anywhere in the world. SHV Energy plans to sell the biopropane in several European markets and has initiated discussions with customers in France, Germany, Benelux, Scandinavia and the UK. Replacing existing fossil fuels with biopropane will result in significant carbon savings.
"Biopropane is a wonderful addition to our product portfolio, and our customers can benefit from it," says Fulco van Lede, Management Board Member of SHV Energy. "LPG already provides our customers with a cleaner rural energy choice to the high-carbon fuel alternatives many are dependent on in off-grid areas. Biopropane means this option will become even cleaner. In use, it is identical to conventional propane and can be blended and used by all existing appliances suitable for use with propane. In addition, biopropane is a great opportunity for SHV Energy to lead the LPG business towards a more sustainable future".
"SHV Energy is an ideal partner to market and distribute our biopropane," according to Kaisa Hietala, Neste Oil's Executive Vice President, Renewable Products. "This agreement ensures that it will find customers who can most benefit from what it has to offer and its unique environmental properties."
Neste Oil's Rotterdam refinery primarily produces premium-quality renewable diesel from various bio-based inputs and waste. A EUR 60 million investment to produce and store biopropane in Rotterdam was announced in early September this year. The new unit will purify and separate biopropane from the sidestream gases produced by the refinery. Technology, engineering and project management company Neste Jacobs will design and implement the biopropane production process. Neste Oil expects the new unit to be producing biopropane at the end of 2016.
Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications and Brand Marketing
Further information:
Kaisa Hietala, Executive Vice President, Renewable Products, Neste Oil, tel. +358 50 4584128
Joppe Hendriks, Manager, External Communication, SHV Energy, tel. +31 629099153.
Pictures of Neste Oil's Rotterdam refinery can be found here: http://brandbank.nesteoil.com/?cart=1343-ideddhlacd&l=EN (http://brandbank.nesteoil.com/?cart=1343-ideddhlacd&l=EN)
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.5 billion in 2013 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com (http://www.nesteoil.com).
About SHV Energy
SHV Energy is a family-owned multinational organisation that consists of a group of specialised energy companies. These companies provide people and businesses with decentralised personalised energy solutions and services. Our customers often live or work in areas beyond the natural gas grid and rely on our companies for their most important energy sources. Today, we are servicing the needs of over 30 million customers over three continents that use our energy for hundreds of applications.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Neste Oil Oyj via Globenewswire
