In Japan, Finnish oil refiner and renewable products major Neste Oyj, Marubeni Corporation, a major Japanese general trading and investment conglomerate, and Resonac Corporation, a leading Japanese chemical company have entered into a cooperative agreement to enable the production of renewable olefins and derivatives.
The cooperation involves Neste RE, a Neste-produced renewable raw material, used to manufacture products at the Resonac Oita Complex in Japan. Marubeni will coordinate all logistical arrangements from Neste to Resonac.
Replacing fossil resources in the production of plastics is one of the major challenges the industry faces. We are excited to team up with Marubeni and Resonac in tackling this challenge. The sustainability transformation requires committed frontrunners and that is exactly what Marubeni and Resonac are, said Carrie Song, SVP, Commercial, Renewable Products at Neste.
Renewable Neste RE is a bio-based feedstock used in steam crackers. It is made from 100 percent renewable raw materials such as waste, residue oils, and fats.
We are excited to embark on a project to build the value chain for renewable chemicals, partnering with Neste, the world’s leading renewable feedstock supplier, and Resonac, a leading chemical company in Japan. We aim to contribute to the carbon neutrality of the petrochemical industry by establishing a trade flow of diverse renewable feedstocks in addition to conventional raw materials, said Yoshiaki Yokota, CEO & Infrastructure Solution Group at Marubeni.
Consisting of pure hydrocarbons, Neste RE can be used to replace conventional feedstock such as fossil naphtha in the chemical value chains, contributing to a reduction in greenhouse gas (GHG) emissions.
We are very happy to work cooperatively with Neste and Marubeni to cater to the need for renewable olefins and derivative products in the market. Resonac’s Oita Complex has been ISCC PLUS certified. The Oita Complex will continue providing the market with renewable olefins and derivative products by applying a mass balance method based on the ISCC system, stated Hirotsugu Fukuda, General Manager of the Olefins & Derivatives Business Unit at Resonac.
