OMV and Lufthansa Group further strengthen partnership with Sustainable Aviation Fuel
- Memorandum of Understanding (MoU) to supply a total of more than 800,000 tons Sustainable Aviation Fuel (SAF) between 2023 and 2030
- Cooperation to include new locations and new SAF production technologies
- OMV already supplying SAF to Austrian Airlines at the Vienna International Airport
OMV, the international integrated oil, gas and chemicals company headquartered in Vienna and Lufthansa Group, have signed a Memorandum of Understanding (MoU) for the supply of more than 800,000 tons of Sustainable Aviation Fuel for the years 2023 to 2030. The companies intend to expand their existing partnership and extend it to include new locations for SAF production and delivery as well as new SAF production technologies. OMV has already been supplying the first volumes of SAF to Austrian Airlines, part of the Lufthansa Group, at Vienna International Airport since March 2022.
With the expansion of the cooperation, the Lufthansa Group promotes the availability, market ramp-up and use of SAF as essential elements for a CO2 neutral future of aviation. The Lufthansa Group is continuously examining options for long-term purchase agreements and is already the largest buyer of SAF in Europe. For OMV, the planned SAF supply partnership with the Lufthansa Group is a further step towards reducing the CO2 intensity of the product portfolio and providing solutions for the sustainable development of the aviation industry.
Committed to support the ambitions of the aviation industry to cut jet fuel consumption and CO2 emissions, OMV sees Sustainable Aviation Fuel as an important portfolio upgrade to its jet fuel range. Innovation and future-oriented technologies are essential to meet climate and greenhouse gas emissions targets. OMV is implementing numerous measures to achieve its ambitious strategic sustainability goals, and SAF significantly contributes to its transformation. OMV aims to become 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.
Sustainable Aviation Fuel is produced by OMV by co-processing sustainable and regional raw materials, specifically used cooking oil. Compared to conventional jet fuel, Sustainable Aviation Fuel contributes to a reduction of greenhouse gas emissions of more than 80% over the entire life cycle.
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.