With the aim of transforming its productive activities and the large-scale production of green fuels, low carbon footprint, the Hellenic Petroleum Group is updating its strategic plan and is examining the investment projects it will implement.
According to a group announcement, green fuels will be environmentally friendly and will utilize new low-carbon raw materials, such as biomass, recycled cooking oils, plastic waste, advanced biofuels, blue and green hydrogen or even synthetic fossil fuels. CO2.
Also, these fuels will be compatible with existing engine technologies, leading to a gradual reduction of the CO2 footprint of the fleet.
To date, as part of its strategy for sustainable development, the group has complied with the EU regulatory framework for reducing CO2 emissions from refineries through the implementation of energy saving and RES investments, with the aim of evolving into an energy solution provider, reducing CO2 emissions by 50% by 2030 and achieving carbon neutrality by 2050, helping to tackle the phenomenon of climate change.
According to the European refining industry, green fuels will play a strategic role in the transition to a climate-neutral economy by 2050.
The development of green fuels for road transport will create the framework for the reduction of emissions from aviation, shipping and heavy transport fuels, as well as the replacement of raw materials for the petrochemical industry, offering solutions in areas for which there are currently no alternative technologies.
The process of refining towards the production of green fuels has begun with the first investments in biofuel and synthetic fuel production units.
It also notes that with the right institutional framework, the production of low carbon liquid fuels could reduce CO2 emissions from European transport by up to 100Mt by 2035, reductions equivalent to CO2 savings from 50 million electric cars on EU roads. .
Cooperation between the industrial sectors will give the EU the global technological leadership for the transition to low carbon emissions, creating opportunities for the export of technologies and new business models, concludes the announcement of the ELPE group.