Neste Studies Porvoo Shift to Renewable, Circular Feedstocks
Finnish oil refiner Neste has launched a study on transforming its Porvoo facility to renewables and circular feedstocks, ending crude oil refining in the mid-2030s.
The transformation being studied would start with the co-processing of both renewable and circular feedstock and could continue with retrofitting existing units at a later stage, with a long-term potential capacity of 2 million to 4 million t/y. Neste will also continue actively studying opportunities for green hydrogen at Porvoo.
“The Porvoo site provides a flexible and large-scale base that can grow into a major site for our renewables and circular business,” said president and CEO Matti Lehmus.
But the group pointed out that a transformation of such scale would need significant investments, noting that as the plan spans more than a decade, it would be built on modularity and flexibility and could be adjusted to reflect variations in the pace of change in both the renewable and circular businesses, as well as in traditional refining.
In March this year, Neste announced it was conducting a feasibility study to explore investing in capacity for processing liquefied waste plastic at Porvoo. The move is part of the company’s plans to commercialize the chemical recycling of plastic waste and would involve implementing proprietary technologies to pre-treat and upgrade the waste.
Author: Elaine Burridge, Freelance Journalist
