The new data released by SPBI for Sep-Nov confirmed the HVO100 segment more than doubled last year. Between 2015 and 2017, this market had been amazingly multiplied by 15 times.
The very fast development of the pure HVO segment continued in Q3 and Q4 2017, putting the HVO consumption growth at a solid 36%. We’re now talking about a 1.44 million mt market for Fame/HVO in 2017, the third largest in Europe after France and Germany. The consumption of HVO in Sweden last year (1.14 million mt, according to our forecasts) is equivalent to Neste’s production capacity in Rotterdam. From 2018, it will be at least 20% above it, since the GHG mandate will renew the dynamism of the HVO blending segment.
Specifically, October has been an especially strong month in terms of biodiesel demand with 141 Kcum of HVO and 29 Kcum of Fame absorbed, a new all-time record. That month, HVO accounted for 83.1% of the biodiesel market, also the highest figure ever reported.