REFINERY NEWS ROUNDUP: European companies announce clean fuel projects
European companies are announcing cleaner fuel projects on the way to carbon neutrality that the EU is targeting for 2050.
However delegates of the 10th EU refining forum in late February said that liquid fuels continue to be used. By 2050, at least half of the energy will continue to be provided by liquid fuel but in a “low carbon form,” according to panel participants.
Italy’s Eni in its 2021-2024 strategy update pledged to be fully carbon neutral or achieve net zero emissions by 2050 covering scope 1, 2 and 3 of greenhouse gas emissions, as it looks to grow its renewable energy business. The decarbonization of Eni’s products will be achieved by expanding bio-refineries and renewables production, along with investing in carbon capture storage projects, among other initiatives. Eni is looking to double its bio-refining capacity to around 2 million mt/year by 2024, increasing this capacity at least five times by 2050. As part of this it is also looking to build blue and green hydrogen facilities for its bio-refining system.