Bangchak, Thai Airways sign MOU on sustainable aviation fuel
Thailand-based energy company Bangchak and Thai Airways signed a memorandum of understanding on the exchange of technical knowledge and expertise on the use of sustainable aviation fuel (SAF), Bangchak announced May 24.
According to Bangchak, the collaboration aims to promote the aviation industry both domestically and internationally by refueling aircraft with SAF, ultimately achieving the goal of net-zero emissions by 2050 within the industry.
In 2022, Bangchak established Thailand’s first and only company to produce SAF from used cooking oil.
This initiative is part of a roadmap aimed at achieving net-zero greenhouse-gas (GHG) emissions by 2050.
Planning is also underway to convert Bangchak refinery into a biorefinery to produce biofuels, the “energy source of the future,” according to the company, which would help reduce GHG emissions from the transportation sector.
SAF not only adds value to used cooking oil, but also helps reduce carbon-dioxide emissions from the aviation industry.
Furthermore, this collaboration involves sharing of knowledge, experiences, and expertise between the two parties to conduct technical studies on enhancing the efficiency of SAF usage aimed at achieving net-zero by 2050, in line with the standards set by the International Civil Aviation Organization and the International Air Transport Association.
Currently, the aviation industry contributes approximately 2 percent of total GHG emissions, and it is expected to grow in the future, resulting in an unavoidable increase in GHG emissions.
Thamarat Paryoonsuk, senior executive vice president of Bangchak’s refinery-business group, said that as one of the leaders in energy transition, Bangchak is committed to pursuing its vision of “crafting a sustainable world with evolving ‘greenovation’” by balancing the “energy trilemma” to sufficiently procure, produce and distribute petroleum and biofuels for the business sector, and the public.
Bangchak said it is committed to developing and expanding its core businesses, as well as accelerating investments in green and sustainable businesses to prepare for future technological advancement and progress, and the challenges of climate change.
The Thai energy company also has other initiatives in place, including increasing the proportion of clean-energy usage in selected service stations towards becoming net-zero stations, collaborating with business partners to install EV chargers that cover all regions in Thailand, expanding its green-power business, studying and investing in batteries and pioneering the establishment of a “Carbon Markets Club,” the first of its kind in Thailand.
This network promotes knowledge exchange on carbon-credit management and serves as a platform for carbon-credit trading within the country.
Bangchak also undertakes reforestation projects for nature-based carbon sequestration through collaboration with various organizations.
The company said it “firmly believes that the collaboration with Thai Airways in this instance will contribute to promoting the aviation industry both domestically and internationally. This partnership will enable access to SAF, which plays a role in reducing GHG emissions from aircraft.”