Finnair signs SAF offtake agreement with Cosmo Oil Marketing

Japanese major oil marketing company Cosmo Oil Marketing said that it has signed a sales contract for sustainable aviation fuel (SAF) with Finland’s flag carrier Finnair.

“SAF is a renewable and safe alternative fuel with special certifications (ISCC CORSIA, ISCC EU) to reduce aviation’s negative impact on the environment. Expanding the use and production of SAF is in keeping with our shared goal of reducing aviation’s dependence on fossil fuels,” said Evelina Fuller, senior vice president for sustainability at Finnair.

The supply will begin from 2025 and the SAF will be produced by Saffaire Sky Energy, a joint venture between Cosmo Oil, JGC Holdings and Revo International.

“SAF is one of our carbon-neutralisation products and an important part of decarbonising the skies. We are pleased to be able to contribute to the decarbonisation of Finnair, which has a global network, and our customers. We will continue to support the realisation of a carbon-neutral society through the use of SAF, including through this initiative,” said Koji Moriyama, president and CEO of Cosmo Oil Marketing.

The company said the SAF traded to Finnair under the contract was adopted in 2021 as part of the New Energy and Industrial Technology Development Organization (NEDO) subsidy project “Establishment of a supply chain model for SAF production using domestic waste edible oil as a raw material”.

Saffaire Sky Energy said it has already obtained the international certification systems for sustainable products including the ISCC CORSIA Certification and ISCC EU Certification.