Neste has launched a new brand of entirely waste-derived renewable diesel in its home Finnish fuel retail market.
The MY brand of drop in renewable diesel will be available at Neste filling stations in and around the Finnish capital Helsinki. The brand will be priced “somewhat higher” than Neste Pro Diesel, which contains at least 15% renewable diesel, the firm said.
Mechanisms in many European biofuel mandates allowing fuel suppliers to “double count” waste-based biofuels have put these fuels and feedstocks at a significant price premium to conventional crop-based biofuels. European refiners meanwhile are scrambling to source waste feedstock to feed Europe’s growing demand for biofuel given increasing greenhouse gas saving requirements and a shortage of imported blendstock.
Neste has long dominated global production of renewable diesel from its 2mn t/yr fleet of purpose built units in Rotterdam, Finland and Singapore, drawing feedstocks from a complicated web of different global originations. European refiners such as Total and ENI are now muscling in on the act by converting underused crude processing units to be able to process biomass-based feedstocks.
While Neste has been increasing the share of wastes in its product portfolio, it has still not managed to entirely eliminate palm oil from its inputs, with other refiners also struggling to originate enough waste feedstock at scale to wean themselves off dependence on food crops. The firm was targeting an 80% share for waste feedstocks by the end of last year.
MS – 09/01/20169