ASEAN KEY DESTINATIONS
PTTAR to make biofuels
Chief executive officer Chainoi Puankosoom says jet biofuel and biodiesel will be made through hydrogenation technology developed by parent PTT's laboratory two years ago to ensure the quality of its products will be aviation-compatible.
In terms of business viability, the company has an advantage over peers as it has surplus hydrogen and condensate residue from its petrochemical and oil refinery production that can be used in making the jet fuels.
European Union regulations will force air transport operators to use biofuel to reduce emissions, otherwise airlines will have to pay fines for their greenhouse gas emissions.
PTTAR's board will consider the investment project next month. The environmental and health impact assessment reports will take one year, with another 18 months for construction.
"This technology will not only provide a high grade of biofuel for jet engines, but our product quality will also be similar to diesel used effectively in freezing temperatures," said Mr. Chainoi.
He said the company was now working on 100 measures to control costs and enhance energy efficiency. It will join with Star Petroleum Refinery and SCG Chemicals for production processes aimed at saving 160 million baht.
Within two years the company expects to be able to cut production costs by nearly 2 billion baht a year via a heat recovery unit and energy-saving equipment installation, said Mr. Chainoi.
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