HELLENIC PETROLEUM Group and Neste to Supply Sustainable Aviation Fuel in Greece and to AEGEAN

In a move of great significance, which is tightly connected to its strategy to reduce emissions, HELLENIC PETROLEUM Group has entered an agreement with Neste for the commercial distribution of Neste Sustainable Aviation Fuel ^TM (SAF) on flights by AEGEAN, the leading air carrier in Greece.

HELLENIC PETROLEUM Group, through its subsidiary EKO, will ensure the supply of SAF on AEGEAN flights departing from its Thessaloniki Airport “Makedonia” hub. Flights from Athens International Airport are expected to follow soon.

This important agreement brings together HELLENIC PETROLEUM Group’s expertise in the supply and distribution of jet fuel with Neste’s expertise in the production and supply of       sustainable aviation fuel to provide safe and reliable SAF supply in Greece. SAF is recognized globally as the most feasible option to reduce aviation emissions in the near term.

The agreement is in line with HELLENIC PETROLEUM Group’s strategic goal to become a provider of low carbon energy solutions and to reduce its carbon footprint by 50% until 2030, while facilitating airlines and airports to align in a proactive manner with the upcoming European Union SAF targets by 2025.

Konstantinos Panas, Hellenic Petroleum RSSOPP Supply & Sales General Manager commented: “Our cooperation with Neste, a global leader in renewable and sustainable fuels, is a significant part in the implementation of our strategic plan ‘Vision 2025’ for the energy transformation of our Group. This initiative is one of others to follow for the gradual increased use of sustainable fuels and we are proud to partner with Neste to help AEGEAN and the Greek aviation industry to reduce its carbon footprint.”

Jonathan Wood, Vice President Europe, Renewable Aviation at Neste commented: “We are delighted to be working together with HELLENIC PETROLEUM to make our Neste MY Sustainable Aviation Fuel available in Greece and to AEGEAN. We share the ambition to contribute to reducing the carbon footprint of aviation and are committed to working together to achieve this. Neste is playing its part by increasing SAF production capacity to 1.5 million tons by the end of 2023 - more than the entire aviation pre-Covid fuel demand in Greece. We need to act now - SAF is a key and proven solution with clear climate benefits, and is already available today.”

Neste MY Sustainable Aviation Fuel^TM is produced from sustainably-sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste. In its neat form, and over the life cycle, Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80%* compared to fossil jet fuel use.

* Calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology