Neste CE gazes at sky to tap cleaner aviation fuel opportunity

Finnish company, Neste Oyj, whose bet on renewable fuels made it the best-performing large-cap in Finland over the past decade, has set its sights on a new market to conquer: aviation fuel. The market is attractive, with the use of jet fuel growing 2% to 3% per year, despite more fuel-efficient planes, and as airlines seek ways to meet requirements to cut and offset emissions, CE Peter Vanacker said. “We have 100,000 tons of capacity available in that particular quality that the aviation industry needs, the supply chain is set up -- all that is ready,” he’s said. “Now it’s about negotiating the sales contracts. We are already selling renewable jet fuel, but the volumes are at the early stages still small.” The big hurdle is the expense. Renewable aviation fuel can cost as much as 3 times more than kerosene. <br/>