Recently, the International Conference on Refining and Petrochemical Industry (IRPC) Eurasian Conference was held in Helsinki, Finland. Many senior executives of European petrochemical companies delivered keynote speeches at the conference and reached consensus on the sustainable development of the industry. They believe that gradually developing renewable products business, promoting digital development, and actively advocating circular economy are all necessary steps for the sustainable development of the industry. European refining industry - ldquo; 2050 vision - rdquo; also set goals for their pursuit of sustainable development. Industry insiders jointly said that they would make unremitting efforts to this end.
Developing Renewable Products Business
Peter Vanacker, President and CEO of Neste, shared with participants some of the company's responses to the global climate crisis. Fifteen years ago, the company decided to invest 1.5 billion in fighting climate change, which was considered a risky move by a refinery. Nevertheless, Neste believes that innovation is the only way to remain invincible. Today, the company has developed into a world leading renewable energy producer, with more than 70% of its profits coming from renewable products. The company recently decided to invest 1.4 billion euros in Singapore to produce renewable aviation fuels and other products to help the aviation industry reduce carbon emissions. It is reported that the use of these renewable products will reduce greenhouse gas emissions of about 3 million vehicles annually.
Neste also plans to enter the chemicals and polymer business, especially in the areas of renewable plastics and recyclable plastics. To this end, Neste was named the most sustainable energy company in the world in 2019. According to the company's renewable energy development strategy, Vanacker pledged to help customers reduce greenhouse gas emissions by at least 20 million tons per year and further reduce their carbon footprint. The company's specific goal of green development is to achieve more than 1 million tons of liquefied waste plastics as refinery raw materials and another 1 million tons of other low carbon raw materials by 2030.
Aim at & ldquo; Vision 2050 & rdquo;
Stephen George, chief economist of KBC Advanced Technologies, elaborated on European Refining & ldquo; Vision 2050 & rdquo. & ldquo; Vision 2050 & rdquo; The report was released by the European Refinery Industry Organization (Fuels Europe), which assessed the evolution of demand for refined oil and the technology to change the pattern of the refining industry, including electric vehicles (EV) and low carbon initiatives.
George believes that as demand for petrochemicals continues to grow, more fuels will be converted into raw materials for petrochemical production, while demand for transport fuels will peak and begin to decline after 2040. Electric vehicles will further replace gasoline consumption in the future. In the aviation and heavy cargo transport industry, aviation coal and diesel will continue to lead the market demand. In the future, the residual oil for marine fuel production will continue to change, and it is predicted that the shipping industry will gradually develop to liquefied natural gas (LNG). However, it certainly depends on LNG supply and infrastructure construction.
& ldquo; Vision 2050 & rdquo; Phase II includes the use of renewable electricity, the replacement of steam-driven equipment and green hydrogen. In the third stage, the greenhouse gas intensity of refined products will be reduced by using biomass, biofuels, green hydrogen, plastic and petrochemical products recovery and improving vehicle fuel efficiency.
Promoting Digital Development
Thomas Van De Velde, Vice President of Nordic Chemical Hydrocarbon and Energy Business, said that European Petrochemical must accelerate its digital development and implement circular economy. Digital technology can improve customer experience by adding value and services, while providing optimized technical support and functions. In addition, it improves the reliability of assets and the quality of business execution, and maximizes the insight into data to further improve decision-making.
Van De Velde said recycling schemes would dominate demand growth for polyolefins in Europe. We need to sort the garbage and put it on a recycling route. The solution is not a panacea, but a combination of multiple approaches. According to a McKinsey study, circular economy can bring about 1.8 trillion euros in economic benefits. This is a potentially significant benefit for the energy industry. The European Commission's plastics strategy sets a high standard of mdash and mdash, requiring that more than 50% of the plastic waste generated by the EU be recycled by 2030. The key is that all participants in the value chain need to strengthen cooperation in order to provide the best sustainable solutions.
Salla Roni Poranen, general manager of Borealis Polymers, introduced that Norway's largest refinery is a fully integrated petrochemical complex, including six polyolefin plants with a total capacity of 600,000 tons/year, and a solvent deasphalting unit with modern processes for renewable diesel and residue treatment. Their goal is to generate half of their electricity from renewable sources by 2030, while increasing energy efficiency by 20%.