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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] South Korean refiners are making strides in supplying sustainable aviation fuel (SAF) to both domestic and international airlines amid declining international oil prices and consumption downturns, which have impacted the profitability of traditional refining businesses. This move is part of their strategy to capture emerging markets in the era of mandatory eco-friendly aviation fuels.
On the 19th, S-Oil announced it has signed a memorandum of understanding (MOU) with T'way Air for SAF supply and joint marketing efforts. S-Oil will support T'way Air with the SAF required for its Japan routes starting in September, and will continue to provide SAF as needed in the future.
The two companies will also collaborate on broader SAF-related initiatives, including joint marketing and promotional activities. S-Oil is leading the domestic refining industry in SAF production, international certification, and supply. In January, S-Oil became the first Korean refiner to process bio-feedstocks in its refining facilities.
Furthermore, in April, S-Oil obtained international certification for its SAF under ISCC CORSIA, marking the beginning of its carbon reduction product production. Starting this month, S-Oil will supply SAF to Korean Air’s flights to Tokyo once a week.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
