Higher U.S. Imports of Renewable Diesel During First Five Months of 2024: EIA
U.S. imports of renewable diesel averaged 30,000 barrels per day (b/d) during the January to May 2024 period, according to an Aug. 6 report published by the U.S. Energy Information Administration. U.S. imports from renewable diesel come from Neste’s plants in Rotterdam and Singapore and are destined mainly for the U.S. West Coast, where the majority of the U.S.’s renewable diesel demand exists.
The U.S. imported 29 percent more renewable diesel through the January to May 2024 period, compared to the same period during 2023. The rise in imports can be attributed to production capability increasing at Neste’s Singapore plant and higher renewable diesel storage capacity at Vopak’s terminal in Los Angeles.
The U.S. is also a producer of renewable diesel. Financing in innovative renewable diesel production capability has increased significantly across the U.S. because of renewable diesel’s compatibility with petroleum diesel in current petroleum infrastructure and because of government incentives. Oregon, Washington and California are states with active clean fuel programs that incentivise usage of renewable diesel. Renewable diesel is mainly used in the West Coast.
During the January to May 2024 period, 60 percent of imported renewable diesel was sent to Los Angeles, up 13,000 b/d compared to the 2023’s yearly average. The rise in terminal capability in Los Angeles, has been a vital contributor to the growth in the imports to the port during 2024.
Renewable diesel imports arriving in San Francisco have declined marginally, while imports rose during 2024 to New Jersey, Portland, Georgia, Perth Amboy, Oregon and Atlanta. This year, so far, 96 percent of U.S. renewable diesel imports came from the Neste’s Singapore plant and the Rotterdam facility supplied the remaining four percent.
The agency projects higher volumes of renewable diesel imports during 2024, compared to previous years. Despite the overall yearly increase, imports are expected to decrease during the remainder of 2024, due to planned maintenance at both Neste’s Rotterdam and Singapore plants.
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