Chevron Corp.
Jul 11, 20232 min
Since early 2022, Chevron has completed more than 50 successful biofuels deliveries to global strategic shipowners in the Singapore port, Chevron announced July 5.
“The achievement feeds into our goal to help deliver an affordable, reliable, ever-cleaner biofuel that can be used for everything from aviation to marine transportation,” the company stated.
Biofuels can quickly change transportation sectors for the better.
When used as a marine fuel, biofuels can reduce greenhouse-gas (GHG) emissions on a lifecycle analysis.
“Biofuels have made an immediate impact in the maritime sector,” said Jon Scharingson, Chevron Renewable Energy Group’s executive director of strategic initiatives. “And we’re just getting started.”
Through partnerships, research, development and its 2022 acquisition of Renewable Energy Group, Chevron said it is committed to increasing its presence in the biofuels market and supporting the transition to a lower-carbon future.
“Chevron is committed to partnering with key shipowner customers to provide lower-carbon solutions, including biofuels,” said Frankie Lee, Chevron’s vice president of product supply and trading in the Asia-Pacific region.
Chevron said it collaborates with a variety of biofuels producers and customers worldwide.
Particular to shipping, it has:
Engaged key global strategic shipowners to develop biofuel-partnership opportunities
Secured marine biofuels supply deals with more than five leading shipowners
Filed for a patent for biofuel blending
“We are pleased with the success of more than 50 biofuel deliveries to vessels belonging to our strategic shipowner customers,” Lee added.
Chevron said these endeavors will help the company expand its options for lower-carbon shipping and increase its pursuit of other lower-carbon shipping-collaboration opportunities with key customers.
“While biodiesel and renewable diesel got their start in the on-road transportation sector, our fuels are making an impact beyond trucking,” said Kevin Lucke, president of Chevron Renewable Energy Group. “The demand for lower-carbon energy solutions is increasing in sectors like marine, and our customers are looking to us to help meet their lower-carbon goals.”
To strengthen its position in biofuels for shipping, in April 2022 Chevron joined the Global Centre for Maritime Decarbonisation, a nonprofit organization working to eliminate GHG emissions from the maritime industry.
“Our partnership with GCMD and its members provides the industry-wide collaboration and innovation necessary to address a hard-to-abate sector like maritime,” said Mark Ross, president of Chevron Shipping Co. “Well-designed policy as well as fundamental changes across the entire value chain are also critical to our lower-carbon ambitions.”
Chevron noted that it is also purposely developing its marine biofuels offerings from renewable, waste-based feedstocks so as not to compete for food crops.