- The two companies have signed a Memorandum of Understanding for the supply of Sustainable Aviation Fuel (SAF) for the next 8 years
- The MoU enables Ryanair to purchase up to 160,000 tons of SAF from OMV
- OMV and Ryanair have committed to playing an active role in reducing the aviation industry’s carbon footprint
OMV, the international integrated oil, gas and chemicals company headquartered in Vienna and Ryanair, have today signed a Memorandum of Understanding to supply sustainable aviation fuel (SAF) at Ryanair airports across Austria, Germany, and Romania. While the limited production of SAF remains a global aviation issue, this MoU agreement gives Ryanair unique access to purchase up to 160,000 tons (53 million gallons) of SAF from OMV over the next 8 years (starting in 2023). This would account for a total CO2 reduction of over 400,000 tons, equivalent to approx. 25,000 Ryanair flights from Dublin to Vienna.
This landmark MoU demonstrates Ryanair’s continued progress towards its target of using 12.5% SAF by 2030 and the airline and OMV’s wider shared ambition to reach net-zero emissions by 2050. Ryanair has already significantly advanced these commitments by partnering with Trinity College Dublin to open the Ryanair Sustainable Aviation Research Centre and investing USD 22bn in its ‘Gamechanger’ fleet, which offers 4% more seats while burning 16% less fuel.
OMV is implementing numerous measures to achieve its ambitious strategic sustainability goals, and SAF makes an essential contribution in this transformation. Based on the strategic outlook for the aviation sector, OMV sees sustainable aviation fuel as an important addition to its future jet fuel range. This portfolio upgrade is in line with OMV’s commitment to becoming a net-zero company by no later than 2050 (for Scope 1,2 and 3). Clear medium and long-term emission reduction targets have been defined for this purpose as part of the OMV Strategy 2030. The planned scale up of SAF production to 700,000 tons in 2030 will play an important role in achieving these goals.
Nina Marczell, OMV Vice President Aviation, Fuels Distributors & Public Sector: “We are committed to reducing our own carbon footprint as well as supporting our customers in reducing theirs. This Memorandum of Understanding is a great opportunity to accelerate both companies' sustainability efforts. Sustainable aviation fuel significantly reduces CO2 emissions, and we are delighted to collaborate with strong partners like Ryanair and to provide solutions for the sustainable development of the aviation industry.”
Speaking in Vienna, Ryanair’s Director of Sustainability, Thomas Fowler said, “SAF is a cornerstone of our Pathway to Net Zero decarbonization strategy and we are committed to increasing our use of SAF over the coming years, a commitment that this agreement will play an instrumental role in. We are delighted with the investment and scaling of OMV’s innovative SAF production across Europe. OMV is a key partner for us in Austria, Germany and Romania and we look forward to growing this partnership as Europe’s largest airline.”
With Group sales revenues of EUR 36 bn and a workforce of around 22,400 employees in 2021, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Refining & Marketing business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,800 filling stations in ten European countries. In addition, the activities include Gas & Power Eastern Europe where it also operates a gas-fired power plant in Romania. In Exploration & Production, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2021 included production from a joint venture in Russia and amounted to 486,000 boe/d with a focus on natural gas (~60%). As of March 1, 2022, Russian entities are no longer consolidated. Its activities include Gas Marketing Western Europe, where it also operates gas storage facilities in Austria and Germany.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.