Hellenic Petroleum deal with Neste for green aviation fuel

Hellenic Petroleum Group has entered an agreement with Neste for the commercial distribution of Neste MY Sustainable Aviation Fuel (SAF) for flights by Aegean, Greece’s leading air carrier. 

Hellenic Petroleum, through its subsidiary EKO, will ensure the supply of SAF for Aegean flights departing from Thessaloniki’s Makedonia Airport. Flights from Athens International Airport are next in line. 

This agreement brings together Hellenic Petroleum’s experience in the supply and distribution of jet fuel with Neste’s expertise in the production and supply of sustainable aviation fuel to provide a safe and reliable SAF supply in Greece. SAF is recognized globally as the most feasible option to reduce aviation emissions in the near term. 

The agreement is in line with Hellenic Petroleum’s strategic goal to become a provider of low-carbon energy solutions and to reduce its carbon footprint by 50% by 2030, while facilitating airlines and airports to align in a proactive manner with the upcoming European Union SAF targets by 2025.

Konstantinos Panas, Hellenic Petroleum RSSOPP supply and sales general manager, commented: “Our cooperation with Neste, a global leader in renewable and sustainable fuels, is a significant part in the implementation of our strategic plan Vision 2025 for the energy transformation of our group. Other initiatives like this will follow for the gradual increased use of sustainable fuels and we are proud to partner with Neste to help Aegean and the Greek aviation industry to reduce its carbon footprint.” 

Jonathan Wood, vice president for renewable aviation in Europe at Neste, added: “We are delighted to be working together with Hellenic Petroleum to make our Neste MY Sustainable Aviation Fuel available in Greece and to Aegean. We share the ambition to reduce the carbon footprint of aviation. Neste is playing its part by increasing SAF production capacity to 1.5 million tons by the end of 2023.” 

Neste MY Sustainable Aviation Fuel is produced from sustainably sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste. In its neat form, and over the life cycle, Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80% compared to fossil jet fuel use.