Sweden-headed biogas project developer and fuel producer Scandinavian Biogas Fuels International AB (SBF) has announced that it has defined its long-term growth target. The European biogas market is experiencing a paradigm shift and developing very fast, especially in the liquefied gas sector. As such the company has set a 2030 target of 3 TWh annual production capacity comprising mainly of bioLNG.
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According to Natural Gas Vehicle Association (NGVA Europe), the European market for bioLNG powered heavy-duty vehicles (HDVs) is expected to grow one hundredfold during the 2020s – from 2 800 vehicles to 280 000 vehicles.
The European Biogas Association (EBA) expects biogas and bioLNG production to grow in Europe over the same period, from 191 TWh to 467 TWh.
Scandinavian Biogas expects a substantial part of the growth to be in bioLNG. Given the very attractive industrial outlook for biogas, Scandinavian Biogas has decided on a long-term target to reach 3 TWh annual biogas and bioLNG production capacity in Europe by 2030.
Based on the earlier communicated business plan the financial goal by 2024 to reach at least 700 GWh annual capacity remains unchanged. The targeted growth will be based on organic development as well as acquisitions.
In the first phase, the investments will be made in Northern and Central Europe. In order to enhance growth, a dedicated Group level function has been established focusing on Growth opportunities, in February 2022.
The current opportunity pipeline with potential growth projects and opportunities is fully aligned with the new 2030 production target to reach annual 3 TWh biogas and bioLNG production.
