Nov 20 (Reuters) – Major oil and gas companies have ramped up investments in the biofuels sector, betting on sustainable aviation fuel (SAF), with 43 projects expected to be up and running by 2030, consultancy Rystad said in a report.
SAF, produced from waste and residue like used cooking oil or organic crops, emits the same amount of carbon dioxide as kerosene when burned. However, it’s considered less polluting due to its production from leftovers or plants rather than newly drilled oil, which releases additional greenhouse gases.
The aviation industry accounts for nearly 2% of global energy-related carbon dioxide emissions.
“As the energy transition progresses, these biofuels offer a practical, near-term solution to reduce emissions without requiring significant changes to current infrastructure,” said Lars Klesse, analyst of bioenergy research at Rystad.