TAROM and OMV Petrom have signed a contract for the supply of sustainable aviation fuel (SAF).
TAROM becomes one of the first airlines in the region to align with European sustainability standards.
Bucharest, November 7, 2024. TAROM, Romanian National Air Transport Company, and OMV Petrom, the largest integrated energy producer in Southeast Europe, announce the signing of a contract for the supply of sustainable aviation fuel, a first for Romanian aviation . Starting from January 1, 2025, OMV Petrom will supply TAROM fuel for SAF aviation at four airports in Romania, in compliance with the requirements of the Refuel EU Aviation Regulation: Henri Coandă Bucharest International Airport, Avram Iancu Cluj International Airport, Traian Vuia Timișoara International Airport and Iași International Airport.
TAROM, Romanian National Air Transport Company, becomes one of the first airlines in the region to align itself with European sustainability standards, thereby making a significant contribution to the reduction of carbon emissions in aviation. The company thus continues its sustainable transformation efforts, after obtaining, two years in a row, in 2022 and 2023, the first place for the medium flight with the lowest CO2 emissions into the atmosphere in the SkyTeam Sustainable Flight Challenge competition, organized by the SkyTeam Alliance.
Costin Iordache, TAROM’s General Manager: “We are in a point when sustainability is becoming a central factor for the entire airline industry, with the application of the SAF usage requirements starting 2025. We are glad to be among the companies at the forefront of this start, having the support of OMV Petrom. Accelerating the use of sustainable aviation fuels is essential if we are to meet the environmental targets set for 2030, and the introduction of SAF for TAROM represents our firm commitment to meeting European targets.”
Radu Căprău, member of OMV Petrom Board, responsible for the Refining and Marketing activity: “We are pleased to continue the partnership with TAROM, a traditional partnership between two important Romanian companies. It strengthens our business relationship and underlines our commitment to transport sustainability. OMV Petrom is committed to applying European standards and reaching targets for a more sustainable future. As part of the 2030 Strategy, we are planning the largest investment in transport decarbonisation in Romania, of over 1 billion Euros, including through the development of renewable fuels. This year, we made the final investment decision for the construction, at Petrobrazi refinery, of a production capacity of 250 thousand tons/year of biodiesel and SAF, which is expected to enter production in 2028”.
SAF, a fuel produced from renewable raw materials, reduces greenhouse gas emissions by more than 80% over its entire life cycle compared to conventional kerosene. As part of the European Union’s “Fit for 55” initiative, the Refuel EU Aviation Regulation introduces a 2% SAF use requirement starting in 2025 and a gradual increase path to 70% by 2050 (6% in 2030). It also mandates fuel suppliers to place sustainable aviation product at airports in the European Union. This regulation, applicable to all Member States, aims to support the transition to low-emission aviation and encourages the use of SAF as the main decarbonisation element of the aviation sector.
Abot TAROM
The Romanian National Air Transport Company – TAROM was established in 1954 and operates under the authority of the Ministry of Transport, being a member of the SkyTeam Alliance since June 25, 2010. TAROM owns a fleet of 18 aircraft and has in its portfolio a number of 70 destinations operated with its own aircraft or served by its partners in the code share system. Since 1993, TAROM has been a member company of the International Air Transport Association (IATA). More details about the products and services offered by the TAROM company can be obtained by accessing the website www.tarom.ro or by calling the Call Center Service free of charge at phone number 004 021 99 78.
About OMV Petrom
OMV Petrom is the largest integrated energy producer in Southeast Europe, with annual group crude oil and gas production of approximately 41 million boe in 2023. The group has a refining capacity of 4.5 million tonnes annually and operates an 860 MW high-efficiency natural gas-fired power plant. On the retail oil products distribution market, the Group is present in Romania and neighboring countries through approximately 780 gas stations, under two brands – OMV and Petrom. OMV Petrom is a company in which, at the end of 2023, Romanian shareholders own over 43% of the shares (of which the Romanian state, through the Ministry of Energy, owns 20.7%, and 22.5% are owned by Romanian pension funds , to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of Austria’s largest listed industrial companies, owns 51.2% of OMV Petrom shares, with the remaining 5.6% held by other foreign investors. Of the total OMV Petrom shares, 28.1% are freely traded on the Bucharest Stock Exchange.
OMV Petrom is one of the largest contributors to the state budget, with around 42 billion euros representing fees, taxes and dividends paid between 2005 and 2023. In the same period, the company invested around 18 billion euros. Since 2007, OMV Petrom has integrated the principles of corporate responsibility into its business strategy. Between 2007 and 2023, the company allocated around 160 million euros for the development of communities in Romania, focusing on environmental protection, education, health and local development. On July 29, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD), the Task Force on Climate-related Financial Disclosures regarding the risks and opportunities associated with climate change. OMV Petrom reports annually on the progress made regarding the implementation of these recommendations.