October 20, 2023 [OMV Group]- OMV, the integrated energy, fuels & feedstock and chemicals & materials company headquartered in Vienna, and Ryanair, Europe’s largest airline group , today announced the signing of an offtake agreement to supply 500 metric t of Sustainable Aviation Fuel (SAF) at Vienna Airport in 2023.
This forms part of the MoU agreement between the companies, providing Ryanair with unique access to purchase up to 160,000 metric t of SAF from OMV up to 2030. This 500 t offtake agreement will save over 1,250 metric t in CO2 emissions (equivalent to about 100 Ryanair flights from Dublin to Vienna).
For OMV, the agreement represents another step towards raising the production of sustainable fuels and chemical feedstock to 1.5 million metric t per year by 2030. OMV is implementing numerous measures to achieve its ambitious strategic sustainability goals, and SAF is an essential contributor to this transformation. Based on the strategic outlook for the aviation sector, it is OMV’s ambition to become a regional leader in SAF supply, making use of its advantageous existing infrastructure.
Today’s announcement demonstrates Ryanair’s continued commitment towards its 12.5% target for SAF by 2030. Ryanair has already significantly advanced these commitments by partnering with Trinity College Dublin to open the Ryanair Sustainable Aviation Research Centre. Furthermore, it is investing USD 22 bn in its ‘Gamechanger’ fleet, which reduce CO2 emissions by 16% less fuel; and an additional USD 40 bn order of 300 Boeing 737 MAX-10 aircraft which burn 20% less fuel while carrying 21% more passengers.
OMV produces Sustainable Aviation Fuel by co-processing sustainable and regional raw materials, specifically used cooking oil, at its Schwechat refinery in Austria. Compared to conventional jet fuel, Sustainable Aviation Fuel contributes to a reduction of greenhouse gas emissions by more than 80% over the entire life cycle.
Martijn van Koten, OMV Executive Vice President Fuels & Feedstock, “We are building a growth business for Sustainable Aviation Fuel to support the industry’s journey towards a more sustainable future. We are proud of our partnership with Ryanair that allows both companies to leverage their expertise in promoting the use of SAF. This facilitates the transition towards the application of more sustainable forms of energy and helps reduce the climate impact of aviation.”
Ryanair’s Head of Sustainability, Steven Fitzgerald said, “SAF plays a key role in our Pathway to Net Zero decarbonization strategy in which we have committed to increasing our use of SAF over the coming years – a commitment that this deal with OMV will help move further forward. OMV is a key partner for Ryanair in Austria, Germany and Romania and we look forward to growing this partnership as Europe’s largest airline Group.”
With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,700 filling stations in eight European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire gas business.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.
Ryanair Holdings plc
Ryanair Holdings plc, Europe’s largest airline group, is the parent company of Buzz, Lauda, Malta Air, Ryanair & Ryanair UK. Carrying 183.5m guests p.a. on 3,300 daily flights from 91 bases, the Group connects 230 airports in 36 countries on a fleet of 563 aircraft, with 386 Boeing 737s on order, which will enable the Ryanair Group to grow traffic to 225m p.a. by FY26 & 300m p.a. by FY34. Ryanair has a team of over 22,000 highly skilled aviation professionals delivering Europe’s No.1 operational performance, and an industry leading 38-year safety record. Ryanair is Europe’s greenest, cleanest, major airline group and customers switching to fly Ryanair can reduce their CO₂ emissions by up to 50% compared to major European legacy airlines.
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