Eni Sustainable Mobility, PBF Energy announce JV for St. Bernard biorefinery in the US
In Italy, Eni Sustainable Mobility said it has entered into an agreement to partners in a 50-50 joint venture with PBF Energy for the biorefinery currently under construction co-located with PBF’s Chalmette Refinery in Louisiana, in the United States. Upon consummation of the transaction, which is subject to customary closing conditions, including regulatory approvals, Eni Sustainable Mobility will contribute capital totaling $835 million plus up to additional $50 million that is subject to the achievement of eventual project milestones and will provide expertise in biorefining operations, supply and marketing. Under the terms of the deal, PBF will continue to manage project execution and serve as the operator once construction is fully complete. The St. Bernard Renewables biorefinery project is scheduled in the first half of 2023 and the facility is currently targeted to have processing capacity of about 1.1 million tons/year of raw materials. The new facility is expected to produce mainly HVO Diesel (Hydrotreated Vegetable Oil) with a production capacity of 306 million gallons per year. The biorefinery will use the Ecofining process developed by Eni in cooperation with Honeywell UOP. “Joining St. Bernard Renewables biorefinery project enables Eni to enter into US biofuels growing market together with a strong partner such as PBF. This is a further step for Eni Sustainable Mobility to expand its biorefining capacity, that today is over 1 million tons/year and it is planned to grow in the upcoming years,” said Stefano Ballista, CEO of Eni Sustainable Mobility.
Category: SAF
