2024: significant expansion expected in US SAF production
The US is poised for a major increase in sustainable aviation fuel (SAF) production in 2024, potentially transforming the aviation fuel landscape.
In 2024, the United States is set for a transformative shift in aviation fuel with a significant expansion in sustainable aviation fuel (SAF) production. The US Energy Information Administration (EIA) projects that SAF production could increase from approximately 2,000 barrels per day (bpd) to nearly 30,000 bpd by the end of the year, driven by key projects like Phillips 66’s Rodeo Renewed and Diamond Green Diesel’s Port Arthur SAF initiative.
Strong investment climate
ChemAnalyst News reports that Phillips 66 aims to reach 10,000 bpd this summer, while Diamond Green Diesel targets 15,000 bpd by year-end. These projects reflect a strong investment climate bolstered by incentives such as the US Environmental Protection Agency's Renewable Fuel Standard (RFS), federal tax credits, and state programs promoting SAF adoption.
The White House's goal of meeting 100% of US aviation fuel demand with SAF by 2050 underscores a national commitment to sustainability. The EIA's 'Annual Energy Outlook' report highlights the growing demand for petroleum jet fuel, projected to surpass 2 million bpd by 2050, emphasizing the importance of scaling up SAF production.
Expansion is crucial
According to the ChemAnalyst News report, SAF production is currently concentrated in two facilities. The EIA forecasts a 50% increase in Other Biofuels production in 2024, with further growth anticipated by 2025. This expansion is crucial for reducing the aviation industry's environmental footprint and achieving broader sustainability goals.
In conclusion, the imminent surge in US SAF production capacity represents a pivotal moment for the aviation industry, supported by robust investments, regulatory incentives, and a shared commitment to a sustainable future.
