South Korea plans mixture of sustainable aviation gasoline for worldwide flights from 2027

South Korea plans mixture of sustainable aviation gasoline for worldwide flights from 2027.

South Korea mentioned on Friday it goals to make sure all departing worldwide flights use a mixture of about 1% of sustainable aviation gasoline (SAF) from 2027.

They mentioned in an announcement:

Because the world’s No. 1 exporter of aviation gasoline, South Korea wants daring coverage assist to arrange for the SAF market as a promising new development engine in response to world demand enlargement.

Six South Korean airways, together with flag provider Korean Air (003490.KS), opens new tab, have begun, or plan, to combine 1% of SAF within the gasoline for a single worldwide route as soon as every week ranging from this yr, the ministries added.

SAF, a substitute for petroleum jet gasoline, is produced from agricultural and waste feedstocks.

Demand for SAF is predicted to develop to 18.35 million tonnes in 2030 from 240,000 tonnes in 2022, the ministries mentioned, citing knowledge from the Worldwide Air Transport Affiliation (IATA).

For the oil refining trade, the federal government mentioned it’s reviewing wider tax breaks for funding in creating SAF, in addition to incentives to ease the burden of excessive SAF manufacturing prices in future.

READ the newest information shaping the biofuels market at Biofuels Central

South Korea plans mixture of sustainable aviation gasoline for worldwide flights from 2027. supply