Mr. Toasaporn Boonyapipat, CEO of PTT Global Chemical Public Company Limited (SET: PTTGC), announced that the company has begun producing Sustainable Aviation Fuel (SAF), making it the first in Thailand to do so. In the initial phase, PTTGC aims to produce 6 million liters of SAF annually, utilizing used vegetable oil as the primary raw material.
SAF is another liquid fuel used in commercial aviation. However, it can reduce CO2 emissions by approximately 80% due to being produced from feedstock like waste oil and fats. Moreover, it can also be synthesized by capturing carbon directly from the air.
The company also plans to expand production to 24 million liters per year in the future. By upgrading its existing refineries with advanced technology, PTTGC can significantly reduce the burden on investment costs compared to building new refineries. This initiative also aligns with the company’s commitment to enhancing bioenergy production capacity to support sustainable growth.
With a collaboration between PTTGC and its key partners, including PTT Oil and Retail Business Public Company Limited (SET: OR) and Thai Airways International Public Company Limited (SET: THAI), to utilize SAF for both domestic and international flights, this will mark a significant step in enhancing a distribution network that covers the region and set a new standard for the aviation industry that commits to the environment.
Currently, the demand for SAF is growing rapidly, driven by increasing environmental awareness in the commercial aviation industry and the continuous establishment of legal frameworks that support the use of renewable energy. Therefore, the company is preparing to tackle these challenges and seize opportunities by using PTTGC’s three main advantages.
Those advantages are modern infrastructure, personnel with oil refining expertise, and efficient raw material management by using used vegetable oil from domestic sources to produce commercial SAF. Furthermore, PTTGC has formed strategic partnerships with its key partners in the aviation industry, enabling the company to maintain its SAF market share. This will also play an important role in directing the path for the commercial aviation and energy industries in the future.
Mr. Toasaporn further stated that PTTGC plans to expand its production capacity for chemicals and bio-based products using renewable energy and sustainable technologies. This method will not only help meet growing demand, but it will also reduce greenhouse gas emissions and improve long-term production efficiency.
Additionally, the company intends to strengthen its strategic partnerships with both domestic and international partners, as well as collaborating with organizations specializing in biotechnology and renewable energy. These efforts aim to reinforce PTTGC’s market position and drive the development and growth of sustainable product markets.
