PREEM’s refinery in Lysekil, Sweden, will be converted to produce renewable fuels.
Preem aims to convert the the Synsat diesel plant at the refinery to become Scandinavia’s largest producer of renewable fuels with a capacity of 650,000–950,000 m3/y of renewable diesel. Preem will submit an application to change its existing environmental permit before the end of the year, and investment decisions are expected in summer 2021. The plant is then expected to be operational in 2024.
Magnus Heimburg, CEO at Preem, said: “Focussing on renewable fuels is a cornerstone of Preem’s overall and long-term business strategy. The project is a central part of Preem’s goal to become the world’s first climate-neutral petroleum and biofuel company throughout the entire value chain by 2045, while maintaining our competitiveness.”
The plant will have a capacity to process up to 40% of renewable raw materials when completed. The conversion of the plant would also reduce emissions by 1.2–1.7m t/y of CO2 throughout the value chain.
The announcement comes after Preem cancelled its proposed Residue Oil Conversion Complex (ROCC) expansion project at Lysekil in September, saying that it would no longer be economical. The project would have resulted in an increase of CO2 emissions by up to 1m t/y, according to Greenpeace.
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