Essar Oil UK has become EET Fuels as it delivers on its plan to become the UK’s first low carbon refinery, setting the global benchmark for lower emitting refineries and industrial decarbonisation.
For a century, the refinery based at Stanlow, on the River Mersey, has provided the fuel and chemical building blocks that people rely on for their everyday lives. EET Fuels remains committed to sustainably meeting the energy needs of the country.
EET Fuels is investing US$1.2 billion (€1.11 billion) to support industrial decarbonisation, with the ambition to deliver a 95% cut in carbon emissions associated with its production processes by 2030.
EET Fuels’ decarbonisation strategy will reduce refinery emissions with two state-of-the-art approaches:
- Industrial carbon capture (ICC) which was announced in November 2022 and is scheduled to be operational by 2028. The project will result in an annual reduction of 1 million tonnes of CO2.
- Hydrogen fuel switching from natural gas and other refinery fuel sources to hydrogen as a fuel, resulting in an annual reduction of 1 million tonnes of CO2.
Deepak Maheshwari, CEO, EET Fuels, says: ‘This is an exciting time for our business. We are delivering on our plan to be the world’s first low carbon process refinery and world’s first low carbon process fuel producer. It is world leading and we’re pleased that it is happening now, in the North West.’
EET Fuels is part of Essar Energy Transition (EET) which was launched in 2023 to drive the creation of the UK’s leading energy transition hub in North West England. EET plans to invest a total of US$3.6 billion (€3.33 billion) in developing a range of low carbon energy transition projects over the next five years, of which US$2.4 billion (€2.22 billion) will be invested across its site at Stanlow, between Liverpool and Manchester
‘EET Fuels is key part of EET, which is building Europe’s foremost integrated energy transition hub. Leading by example, Essar Energy Transition is a major catalyst for region-wide industrial decarbonisation. We are playing our part to ensure that the UK delivers on its climate change goals, enhances energy security, and maintains a strong, secure manufacturing base for fuels,’ adds Prashant Ruia, Chair, EET Fuels and CEO, Essar Energy Transition.
EET’s investment programme will play a major role in accelerating the UK’s low carbon transformation, supporting the government’s decarbonisation policy and creating highly skilled employment opportunities at the heart of the Northern Powerhouse economy.
