TotalEnergies has entered into an agreement to supply airlines Air France and KLM Group with up to 1.5 million tons of sustainable aviation fuel (SAF) until 2035, the Paris-based company said Sept. 23.
The SAF will be used to fuel Air France-KLM flights departing from France, the Netherlands and other European countries, TotalEnergies said.
The sustainable fuel will be produced from waste and residues from the circular economy and will be co-processed at TotalEnergies' French and European biorefineries and refineries, the company said.
By 2030, Air France plans to reduce its CO2 emissions per passenger/kilometer by 30% through a combination of fleet renewal, eco-piloting and incorporating at least 10% more SAF on flights.
“Securing the volumes of more sustainable aviation fuel needed to decarbonize our activity is a major challenge,” said Benjamin Smith, CEO of Air France-KLM Group. “A solid SAF sector capable of meeting our industry’s needs is a key factor in Europe’s sovereignty and energy independence.”
The contract builds on a memorandum of understanding signed in 2022 for the supply of 800,000 tons of SAF, TotalEnergies said.
Recommended Reading
Dividends Declared (Sept. 30 - Oct. 11, 2024)
2024-10-11 - Here is a compilation of dividends and distributions declared from select upstream, midstream and service and supply companies from Sept. 30 to Oct. 11.
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
2024-10-11 - As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
Delek Logistics Partners Raises $166MM in Offering to Pay Debt
2024-10-11 - Delek Logisitics Partners closed an offering of 4.42 million common units to generate gross proceeds of $166 million.
Citgo Auction in Jeopardy as Venezuela Bondholders Pursue Parallel Claims
2024-10-11 - The court cases have increased uncertainty over which company is best positioned to take over the seventh-largest U.S. refiner Citgo Petroleum.
Quantum’s VanLoh: New ‘Wave’ of Private Equity Investment Unlikely
2024-10-10 - Private equity titan Wil VanLoh, founder of Quantum Capital Group, shares his perspective on the dearth of oil and gas exploration, family office and private equity funding limitations and where M&A is headed next.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.