OMV invests around EUR 200 mn in biofuel production at Schwechat Refinery
- Converting up to 160,000 metric tons of liquid biomass into carbon-neutral fuels
- Reducing OMV’s annual carbon footprint by up to 360,000 metric tons by substituting for fossil diesel
- Driver of innovation for alternative feedstocks
OMV, the integrated, international oil, gas and petrochemicals company headquartered in Vienna, is committed to the Paris Agreement and EU climate targets and has set itself ambitious climate goals. OMV has pledged to reach net-zero emissions in operations (Scope 1 and 2) by 2050 or sooner. On its long-term path to net zero, OMV has set concrete interim targets: By 2025, at least 60% of the product portfolio should consist of natural gas and low/zero-carbon products. The investment in the Schwechat site for processing biofuels contributes to the goal of reducing the carbon intensity of the OMV product portfolio (Scope 3) by at least 6% versus 2010.
OMV is currently investing in the Schwechat Refinery so it will be able to substitute large quantities of fossil diesel with biodiesel in an innovative co-processing approach.
With this process, the hydrogenated vegetable oil should lead to an annual reduction in OMV’s carbon footprint of up to 360,000 metric tons of fossil CO2. This is equivalent to the annual emissions of around 200,000 cars driving an average of 12,000 km per year. The product meets the highest quality standards and can be freely used in any type of vehicle. The technology applied is not limited to vegetable oil – waste products (such as used cooking oil) and advanced feedstocks are also possible and will be used based on availability.
“The conversion in the OMV Schwechat Refinery makes a key contribution to more sustainable mobility and is another step in achieving our climate targets. At the same time, we are providing economic stimulus in Austria with this investment of almost EUR 200 mn”, said Thomas Gangl, OMV Chief Downstream Operations Officer.
OMV expects demand for its hydrogenated biofuels to increase ten-fold by 2030. OMV’s decision to invest in its own production lines is part of the transformation process. With this, OMV is one of the first companies in Europe to engage in co-processing on an industrial scale.
Background information
OMV Aktiengesellschaft
OMV produces and markets oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 23 bn and a workforce of around 20,000 employees in 2019, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Central and Eastern Europe as well as a balanced international portfolio, with Middle East & Africa, the North Sea, Russia and Asia-Pacific as further core regions. Daily average production was 487,000 boe/d in 2019. In Downstream, OMV operates three refineries in Europe and owns a 15% share in ADNOC Refining and Trading JV, with a total annual processing capacity of 24.9 mn tons. Furthermore, OMV has a 75% participation in Borealis, one of the world’s leading producers of polyolefins. The Company operates about 2,100 filling stations in ten European countries. OMV runs gas storage facilities in Austria and Germany. In 2019, gas sales volumes amounted to around 137 TWh. Sustainability is an integral part of OMV’s corporate strategy. OMV supports the transition to a lower-carbon economy and has set measurable targets for reducing carbon intensity and introducing new energy and petrochemical solutions.