NEXT Renewable Fuels and Shell Trading (US) Company enter Renewable Diesel Purchase and Sale Agreement
(Houston) NEXT Renewable Fuels, Inc (NEXT) and Shell Trading (US) Company (Shell) have entered a long-term Purchase and Sale Agreement for the purchase of renewable diesel from NEXT’s planned Port Westward, Oregon facility.
Representing an investment of more than $1 billion (USD), NEXT continues to develop its Oregon renewable diesel facility with an expected annual processing capacity of 13.3 million barrels (600 million gallons). Scheduled to open in 2021, NEXT will supply Shell and other partners with its alternative liquid fuels, satisfying end-user demand while also meeting both federal and state environmental compliance and fuel security requirements.
“We are pleased to be working with Shell on bringing our advanced renewable fuels to their customers. Shell and NEXT share a vision for a greener world through the advancement of renewable transportation fuels, giving consumers greener fuel options,” said Lou Soumas, NEXT Renewable Fuels President. “We look forward to supplying Shell for many years.”
NEXT renewable diesel is a second-generation advanced biofuel made from 100 percent renewable feedstocks including used cooking oils, animal tallows, and selected virgin seed and vegetable oils.
“As a drop-in fuel, NEXT’s renewable diesel is a perfect fit with our existing fuels business and will allow us to integrate this advanced fuel seamlessly into our supply chain,” said Kate Andresen, Shell Biodiesel Trading Manager for the Americas.
NEXT selected the Port Westward site due to its strategic location at a deep-water site on the Columbia River, access to global feedstock supplies, and close transport to North American West Coast markets.
About NEXT: NEXT is focused on the development and production of second-generation advanced biofuels, including renewable diesel, renewable propane and renewable naphtha to supply contracted off-take agreements for customers in the western United States and Canada. NEXT’s fuels reduce life-cycle greenhouse gas emissions by up to 80%, improving the environment and moving us forward to a greener future.
About Shell Trading (US) Company (STUSCO): STUSCO operates in the U.S. as part of Shell Trading and Supply, one of the largest energy trading operations in the world, with its largest trading hubs located in London, Houston, Singapore, Dubai and Rotterdam, trading in crude oil, natural gas, LNG, electrical power, refined products, chemical feedstocks and environmental products. This global organization combines our network of trading companies, industry leading shipping and maritime capabilities, and integrated network of supply and distribution activities to act as the central nervous system for Royal Dutch Shell, adding value across Shell’s Upstream, Downstream and Integrated Gas businesses.