HD Hyundai Oilbank, First Domestic Export of Sustainable Aviation Fuel to Japan

Japan's First Import Case of Korean Sustainable Aviation Fuel
"Expanding SAF Leadership through Active Exports"

HD Hyundai Oilbank is set to become the first in Korea to export Sustainable Aviation Fuel (SAF).

Officials attending the inaugural sustainable aviation fuel production export event (from left: Juhyun Lee, Head of Seosan Branch, Korea National Oil Corporation; Byunghyuk Jeon, Director of Petroleum Business Division, Korea National Oil Corporation; Jinhyuk Park, Head of Trading Division, HD Hyundai Oilbank; Seungho Lee, Head of Production and Operations Planning Division, HD Hyundai Oilbank; Ryuichi Masatomi, CEO of Korea Marubeni; Junpei Shiraishi, Head of Next-Generation Fuel Business Planning Team, Marubeni.
[Photo by HD Hyundai Oilbank])

On the 16th, HD Hyundai Oilbank announced that it will supply Sustainable Aviation Fuel to ANA Airlines (All Nippon Airways) through the Japanese trading company Marubeni. Korea National Oil Corporation (KNOC) participated in this project by storing and shipping Sustainable Aviation Fuel at its tank terminal.

Sustainable Aviation Fuel is an eco-friendly fuel produced from bio-based raw materials such as waste cooking oil instead of fossil fuels, and is considered an effective way to reduce carbon emissions in the aviation industry. The product produced this time utilizes a co-processing method that inputs petroleum-based raw materials and animal and plant-based bio raw materials together into HD Hyundai Oilbank’s existing refining facilities.

Notably, this is the first time Japan has imported Sustainable Aviation Fuel from Korea. The Japanese government has announced a policy to replace 10% of aviation fuel demand with Sustainable Aviation Fuel by 2030. HD Hyundai Oilbank plans to target markets not only in Japan but also in Europe and other regions in anticipation of increasing demand for Sustainable Aviation Fuel.

Park Jin-hyuk, Executive Director of the Global Business Division at HD Hyundai Oilbank, said, "As global demand is increasing, we will actively export to secure leadership in the global Sustainable Aviation Fuel market," adding, "We will also expand exports of biofuels using the co-processing method, such as bio naphtha and bio diesel."