Neste Oil welcomes Sweden’s support for renewables

News

The Swedish government has announced that it will take new actions in supporting the development of renewable fuels. The announcement was made by Anders Borg, Minister for Finance, and Anna-Karin Hatt, Minister for IT and Energy, in Dagens Industri business paper. The government’s last proposal regarding the regulation of biofuels did not get approval from the European Commission.

The government’s goal is to abolish the current regulation, according to which hydrotreated vegetable oil (HVO) may only be exempt up to 15 percent of the diesel sales. In its new announcement Swedish government recognizes the potential of HVO in realizing Sweden’s goal of fossil independent traffic. HVO became the largest biofuels in Sweden in 2013.

Neste Oil welcomes the Swedish government’s actions. Neste Oil has strived for renewable fuels for numerous years and developed its own NEXBTL technology for producing renewable fuels. In 2013, Neste Oil produced 1.9 million tons of NEXBTL renewable diesel, which is classified as HVO and equivalent in composition to fossil diesel. Using NEXBTL renewable diesel can achieve a 40-90% reduction in greenhouse gas emissions compared to fossil diesel.

Read more:

Government’s website: http://www.regeringen.se/sb/d/3213/a/242639 (in Swedish)

the article on Dagens Industri: http://www.di.se/#!/artiklar/2014/6/18/debatt-fornybar-diesel-blir-skattefri/ (in Swedish)