Stock Exchange Release
10 September 2014
Neste Oil to invest in producing biopropane in Rotterdam
Neste Oil is to build a biopropane unit at its refinery in Rotterdam. In addition to the unit itself, the investment will include storage tanks and pipework. The project will start immediately and the plan is to begin sales of biopropane at the end of 2016. The total value of the investment is approximately EUR 60 million.
The new unit will purify and separate biopropane from the sidestream gases produced by the refinery. The process will increase the added value of this sidestream significantly, as the gas in question has been sold as fuel for power plant use up until now. When the new unit is complete, biopropane production is expected to total 30,000-40,000 t/a. Biopropane has a comparable set of properties to fossil propane and is suitable for use in existing liquefied petroleum gas (LPG) applications.
Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications and Brand Marketing
Further information:
Kaisa Hietala, Executive Vice President, Renewable Products, tel. +358 (0)10 458 4128
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.5 billion in 2013 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com