May 24, 2023 [Advario]- Singapore | Advario Singapore Limited (“Advario”) announced that the company has entered a long-term partnership with Neste in which Advario provides integrated storage and logistics services for Neste’s sustainable aviation fuel (SAF).
The agreement between Advario and Neste will enable the storage of SAF and Jet A-1 (“Jet Fuel”), as well as the blending of SAF with Jet Fuel (“SAF blends”), allowing Neste to supply SAF blends to airlines operating at Singapore Changi Airport and supply SAF to other markets.
Advario will provide bespoke storage and related logistics services to Neste to facilitate Neste’s SAF operations.
“SAF is a renewable fuel aligned with Advario’s strategic growth plans. Advario is strongly committed to driving innovation and sustainability in the energy sector. The entry into SAF storage signals Advario’s ambition to play a frontrunner role in our industry’s transformation. The partnership between Advario and Neste enables both companies to accelerate Singapore’s transition into sustainable fuels and to take a leading role in the SAF storage and logistics in Singapore,” said Andres Bereilh, VP Southeast Asia of Advario Asia Pacific.
“Neste started up operations in our expanded Singapore refinery after mid-April, providing us up to one million tons of SAF production capability to serve our customers in the Asia Pacific region and globally. We are pleased to partner with Advario establishing the capability to blend our Singapore-produced SAF with conventional jet fuel. This enables us to supply our customers with certified SAF blends that can be delivered to airports across the Asia Pacific region. The blending terminal also forms a key element in Neste’s integrated SAF supply chain into the Changi airport where Neste, as a minority shareholder in the Changi Airport Fuel Hydrant Installation Company Pte Ltd (CAFHI), the fuel storage and infrastructure joint venture of the airport, is able to supply blended SAF directly to our airline customers” says Sami Jauhiainen, acting Executive Vice President for the Renewable Aviation business unit of Neste.
Advario is a leading global player in the storage industry, with a focused growth strategy on chemicals, gas and new energy and a strong commitment to embed ESG and sustainability across its entire operations. Advario is committed to play a frontrunner role in the energy transition through developing transformational partnerships. Advario is headquartered in Rotterdam and operates 13 terminals in Europe, China, Singapore, Middle East and the United States, with a total storage capacity of 8 million cbm. The company takes a focused and collaborative approach, together with its partners, to find storage and logistics solutions in the energy and chemical industry. Building on more than 50 years family-owned business history, Advario consists of a team of 1200 inventive, solutions driven storage experts who apply leading industry expertise and experience to terminal operations as well as new project delivery.
Advario Singapore is a joint venture terminal between Oiltanking GmbH and 3i Infrastructure plc. Since it started its operations in 1990, the terminal is based on Jurong Island with its current storage capacity exceeding 1.3 million cbm and established multiple strategic pipeline connectivity within the energy hub to facilitate its frontrunner role in the energy transition.
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 2022, Neste’s revenue stood at EUR 25.7 billion.
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