GS Caltex Heo Se-hong "Considering Investment in Sustainable Aviation Fuel"

On the 18th, Visiting the Site of the '2024 Seokyu Conference'

Huh Se-hong, President of GS Caltex

Heo Se-hong, CEO of GS Caltex, expressed that the company is considering investment in Sustainable Aviation Fuel (SAF).

On the 18th, at the '2024 Petroleum Conference' held at Lotte Hotel in Jung-gu, Seoul, Heo told reporters in response to a question about whether there are plans to invest in SAF, "We are currently reviewing it."

SK Energy, S-OIL, and HD Hyundai Oilbank, the three domestic refiners, have equipped facilities for SAF production. GS Caltex has not yet invested in sustainable aviation fuel production facilities. Heo had previously stated at a refining industry meeting in July that the company plans to proceed with SAF facility investment as scheduled, and he reaffirmed this investment plan on this day.

Sustainable Aviation Fuel refers to aviation fuel produced from sustainable raw materials such as waste cooking oil and fats instead of conventional fossil fuels. It is known to reduce carbon emissions by up to 80% compared to fossil fuels.

Amid global carbon regulations, the use of sustainable aviation fuel is gradually becoming mandatory. It can reduce carbon emissions by up to 80% compared to conventional aviation fuel. The European Union (EU) has mandated mixing at least 2% sustainable aviation fuel with conventional aviation fuel starting in 2025, and plans to progressively increase the blending mandate to 6% by 2030, 20% by 2035, and 70% by 2050.