In Singapore¡¯s industrial-heavy district of Tuas, Finnish company Neste Oyj is building what will one day be the world¡¯s largest facility for sustainable aviation fuel (SAF).
Once up and running in 2023, the plant should produce 1 million metric tons a year ¡ª a decent amount, but still less than 0.3% of annual global jet fuel demand. What little there is will be expensive: SAF costs as much as five times the price of traditional jet fuel, itself coming off a 14-year peak.
That's a problem for the airline industry, which is counting on SAF as critical component in its efforts to decarbonize. As of now, airlines contribute more than 2% of the world¡¯s carbon emissions and lag almost all other sectors in pledges for a cleaner future.
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