Global companies join forces. Construction begins on South Korea's first biorefinery.
South Korea's LG Chem and Italian oil company Eni have joined forces to produce renewable diesel (HVO) and SAF (Sunstainable Aviation Fuel).
Construction has begun on South Korea's first biorefinery, which will process approximately 400,000 tons of vegetable and cooking oil and other waste materials annually.
The project will utilize Ecofining technology, jointly developed by Eni and the American company Honeywell. Completion is scheduled for 2027.
“The start of construction of the Saosan biorefinery in Korea is an important step in implementing our strategy to expand our offering with more sustainable products and strengthen our position as a leading biofuel producer,” said Stefano Ballista, CEO of Eni’s Biofuels Sector.
In line with its adopted strategy, Eni intends to process 5 million tons of vegetable oils and produce 2 million tons of SAF at its refineries. Due to the European Commission's requirements regarding airline CO2 emissions, interest in this type of fuel is enormous.
According to IATA, only 1 million tonnes of sustainable aviation fuel were produced last year; plans for this year assume an increase to 2.7 million tonnes.
However, demand is a thousand times greater . The problem is the lack of raw materials, as the supply of oils is limited and production costs are very high.
Journalist, graduate of political science at the Faculty of Law and Administration of the Jagiellonian University. Associated with the media for over 40 years. After graduating in 1982, he worked on the editorial staff of "Gazeta Krakowska" and "Kurier Polski." A member of the editorial team of "Przegląd Techniczny." He has published articles in "Student," "Przekrój," and "Życie Literackie." Since the economic and political transformation, he has been associated with Reuters as a correspondent in Krakow for over 20 years. For the next three years, he conducted practical classes with students at the Institute of Journalism, Media, and Social Communication of the Jagiellonian University. Since December 2021, he has joined the PTWP Group and works for the WNP.PL portal. His main professional interests include economics and politics at the global level and the participation of Polish business in this field, particularly companies listed on the Warsaw Stock Exchange. Winner of the "Ostra Pióra" award, granted for "spreading economic education" by the BCC, as well as the Golden Pear - a journalistic award of the Małopolska Branch of the Association of Journalists of the Republic of Poland.
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