Kinder Morgan, Inc. (Houston), one of North America’s largest energy infrastructure companies, is partnering with Neste Corp. (Espoo, Finland), one of the leading providers of renewable and circular solutions, to create a premier domestic raw material storage and logistics hub in the United States, supporting increased production of renewable diesel, sustainable aviation fuel and renewable feedstock for polymers and chemicals. Upon completion of the project, Kinder Morgan’s Harvey, Louisiana facility will serve as the primary hub where Neste will store a variety of raw materials including, for example, the used cooking oil it collects from more than 40,000 restaurants across the United States.
As part of the initial, committed phases of the project, Kinder Morgan will modify existing tanks and piping to enable segregated storage for a variety of raw material across 30 tanks. The scope of work also includes the installation of a new boiler for heating tanks and railcars and infrastructure improvements for rail, truck and marine movements. The project, which is supported by a long-term commercial commitment from Neste, is expected to commence operations in the first quarter of 2023. At Neste’s option, the facility can be further expanded.
“This clearly shows the positive role America’s existing energy infrastructure can play in creating a sustainable future and fighting climate change,” says Jeremy Baines, President of Neste U.S. “Neste and Kinder Morgan are transforming existing terminal assets into what can be considered green infrastructure, which will ultimately enable more American businesses and cities to power their fleets and supply chains with renewable fuels and other products.”
The commitment is one of Neste’s largest to date in the U.S., supporting a more resilient, flexible and sustainable supply chain that can keep pace with the company’s growing production capacity and increasing global demand for lower-emission products. It enhances Neste’s leading position, building on the company’s more than 15-year head start in creating an end-to-end renewable product value chain.
In the long term, the project could also help improve the lifecycle climate benefits and competitiveness of Neste’s renewable products through more efficient and less carbon intensive supply chain operations. Renewable fuels offer an immediate way to reduce greenhouse gas emissions from aviation and heavy duty road transport in the US. Neste’s renewable feedstock for polymers and chemicals manufacturing can also significantly reduce the carbon footprint of the end products.
In fact, Neste’s renewable products prevented over 40 million tons of new GHG emissions from entering the atmosphere over the last five years – the same climate benefits as building 8,300 wind turbines or making 10.8 million cars zero emission according to the U.S. EPA’s GHG calculator.
Kinder Morgan is a trusted partner for Neste, with a strong history of collaboration between the two companies. In 2020, Neste began supplying sustainable aviation fuel (SAF) directly to San Francisco International (SFO) airport via a Kinder Morgan pipeline. More than 1 million gallons of SAF have been supplied into SFO to date.
By Mary Page Bailey
Eastman is investing up to US$1 billion in building what it says is the world’s largest molecular plastics recycling facility in France. The new facility would use Eastman’s polyester renewal technology to recycle up to 160,000 metric tons of hard-to-recycle plastic waste annually – enough plastic waste to fill Stade de France national football stadium 2.5 times.
Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest initial public offering (IPO), according to a term sheet seen by Reuters. The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and $10.8 billion, the term sheet showed.
The SHYNE (Spanish Hydrogen Network) project is the largest multisectoral consortium in Spain, created to promote the decarbonization of the economy through renewable hydrogen. SHYNE will have a total investment of €3.23 billion euros that will serve to develop more competitive technologies and evolve both the Spanish industry and its infrastructure towards decarbonization, generating more than 13,000 jobs.