Thai state-owned PTT Group expands into SAF market
The Thai state-owned oil and gas company PTT Public Company Ltd. has entered into a memorandum of understanding with several of its subsidiaries—Thail Oil Public Company Ltd., PTT Global Chemical Public Company Ltd., IRPC Public Company Ltd., and PTT Oil and Retail Business Public Company Ltd.—on a sustainable aviation fuel (SAF) collaboration project, the company announced Nov. 9.
According to PTT, the SAF collaboration project has integrated refinery knowledge, expertise, experiences, state-of-the-art technology, and continuous development on refinery products of PTT Group, namely Thai Oil, PTT Global Chemical and IRPC.
With PTT Oil and Retail Business’ know-how in the aviation-fuel market, both domestically and internationally, this SAF collaboration project will be accelerated in response to the growing global trend, the company stated.
In addition, efficient and global-standard production technology, namely hydroprocessed esters and fatty acids (HEFA) and alcohol to jet (ATJ), will be adopted with the aim to reduce greenhouse-gas emissions in the aviation industry.
“PTT Group is committed to creating low-carbon society in Thailand, pushing for a net-zero target, reducing greenhouse-gas emissions while adding more value to local biochemical products by utilizing existing resources,” said Noppadol Pinsupa, the chief operating officer of PTT’s downstream petroleum business group. “PTT will also promote sustainable energy, propel the country’s economy and upgrading [the] quality of [life for] Thais, aligning with the vision of ‘Powering Life with Future Energy and Beyond.’”