Neste Oil Singapore Pte Ltd and National Oxygen Pte Ltd (NOX), a wholly owned subsidiary of Japan's Taiyo Nippon Sanso Corporation, have signed an agreement to install a carbon dioxide (CO2) recovery and liquefaction plant at Neste Oil's renewable diesel refinery in Singapore.

Construction is planned to commence in the fourth quarter of 2014 and the plant, which will process an average 40,000 tons of CO2-rich gas from the refinery yearly, is expected to be completed and fully operational by the fourth quarter of 2015.

"I am very happy to announce this agreement with NOX," says Jussi Hintikka, Vice President in Energy in Neste Oil. "The new recovery plant will improve the refinery's resource efficiency and see one of our sidestreams become a valuable raw material for NOX."

The majority of Neste Oil's direct carbon dioxide emissions are refining-related and generated at the Porvoo refinery. Refining-related carbon dioxide emissions are largely produced when burning fuel in fired heaters and in energy generation. The Porvoo refinery recovers carbon dioxide produced during its refining processes and sells the gas to a company located locally. A total of 156,500 tons of carbon dioxide was recovered in 2013.

About Neste Oil

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.