Neste's newly-commissioned terminal capacity in Houston, Texas expands availability of Neste's sustainable aviation fuel at airports in the central and eastern parts of the U.S.
Rhea-AI Summary
Neste has commissioned terminal capacity at ONEOK's terminal in Houston, Texas for blending and storing Neste MY Sustainable Aviation Fuel™. This expansion provides storage capacity of up to 100,000 tons (around 33.5 million gallons) and is directly connected to the energy pipeline infrastructure in the eastern U.S. The move aims to expand SAF availability to airlines operating from airports east of the Rocky Mountains to the East Coast.
This development follows Neste's previous demonstrations of SAF supply capabilities, including to New York's LaGuardia Airport in 2021 and expanded capabilities on the West Coast in 2023. Neste's SAF reduces greenhouse gas emissions by up to 80% over its life cycle compared to conventional jet fuel and is made from sustainably sourced, 100% renewable waste and residue raw materials.
Positive
- Expansion of SAF supply capabilities to central and eastern U.S. airports
- New storage capacity of up to 100,000 tons (33.5 million gallons) at ONEOK's Houston terminal
- Direct connection to eastern U.S. energy pipeline infrastructure
- Neste's SAF reduces greenhouse gas emissions by up to 80% compared to conventional jet fuel
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, NTOIY gained 2.36%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Neste Corporation, News, 24 July 2024
ESPOO,
The new capacity at ONEOK's terminal in
"Neste is fully committed to supporting the
"ONEOK is excited to deliver the energy products the world needs today, while innovating for tomorrow. As a valued partner providing critical energy to the aviation industry, we're proud to utilize our extensive infrastructure platform to facilitate growth within the sustainable fuels markets," said Greg Lusardi, senior vice president, corporate development at ONEOK, one of the largest diversified energy infrastructure companies in the
Sustainable Aviation Fuel
Sustainable aviation fuel is a renewable aviation fuel providing a more sustainable alternative to conventional, fossil-based jet fuel. Using Neste MY Sustainable Aviation Fuel™ reduces greenhouse gas emissions by up to
*) When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology
Further information:
Neste: Please contact Neste's media service, tel. +358 800 94025 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste's releases at https://www.neste.com/for-media/releases-and-news/subscribe.
ONEOK: Please contact ONEOK's media service, media@ONEOK.com.
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ONEOK Galena Park Terminal Houston - Photo courtesy of ONEOK |
SOURCE Neste