May 17, 2011

Australia sees budding biofuels market growth in the EU

Australia sees an opportunity to boost its biofuels exports to the EU, as the latter strives to raise the share of biofuels to 10% by 2020, the Australian Broadcasting Corporation (ABC) said Monday (May 16).

The EU renewable energy directive calls for fuels from biomass produced in a sustainable manner, which puts renewable biomass such as soy and rapeseed oil in the centre of production.

Europe, however, is not capable of supplying all the necessary product itself and will struggle to meet the increase in demand, the ABC said.

Thus Australia could jump in and aid Europe by supplying more oils to the region.