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Neste Oil Oyj: AGA to build a new hydrogen production unit at Neste Oil's Porvoo refinery

Neste Oil Corporation

Press release
28 April 2014 at 9 a.m. (EET)

AGA to build a new hydrogen production unit at Neste Oil's Porvoo refinery

Neste Oil and AGA, part of the Linde Group, have signed a long-term hydrogen
supply agreement covering Neste Oil's Porvoo refinery, under which AGA will
invest to build a new hydrogen production unit at the refinery. AGA will be
responsible for construction and Neste Oil will build the links needed to
connect the unit to the refinery. The project represents an investment of
around EUR 100 million.

Neste Oil already has two hydrogen production units at its Porvoo refinery and
the plan is to replace output from the older of these with hydrogen from the
new, more efficient unit to be built by AGA. The new unit is expected to be
completed in 2016 and will be operated by AGA.

"Working together with AGA like this is an excellent way to increase the
efficiency of our hydrogen production," says Neste Oil's President&CEO, Matti
Lievonen. "The operating costs of the old hydrogen unit are high, and
maintaining it would have called for some major investments over the coming
years. Thanks to AGA's new unit, we will be able to modernize and grow the
hydrogen supply capacity we have access to and thereby increase the
reliability and flexibility of the refinery as a whole. The arrangement will
also free up valuable capital to develop core business related to Neste Oil's
cleaner traffic strategy."

"We have looked at how the prices of the inputs needed for a plant like this
have been developing and have selected a very efficient plant concept," says
AGA Sales Director, Johanna Ylikoski. "The unit will provide a competitive
source of hydrogen for Neste Oil and it will also reduce local CO2emissions.
The plant represents a major industrial investment for Finland nationally

"This is major project for us and will strengthen our position as a hydrogen
supplier to the refining industry," says Aldo Belloni of Linde's Executive
Board. "The project will draw once again on the hydrogen production
technology of Linde Engineering and the operating experience of our Gases

When the new plant built and operated by AGA is operational, it will supply
around 20% of the hydrogen needed by Neste Oil at Porvoo. The remainder will
continue to be largely sourced in-house. Hydrogen is produced from natural
gas using a steam reforming process and is used in numerous processes and
products at Porvoo, to produce sulfur-free diesel products and
premium-quality base oil, for example.

Construction work on the project will start immediately and the plan is to
bring the new unit on stream in summer 2016. Construction could cause
occasional noise disturbance and increased traffic in the area surrounding
the Porvoo refinery.

Neste Oil Corporation

Kaisa Lipponen
Director, Corporate Communications

Further information:
Neste Oil Corporation: Ilkka Poranen, Senior Vice President, Production and
Logistics, tel. +358 (0)10 458 5070
Oy AGA Ab: Johanna Ylikoski, Sales Director, tel. +358 10 242 0385

Photos for media usage can be found

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on
low-emission, high-quality traffic fuels. The company produces a
comprehensive range of major petroleum products and is the world's leading
supplier of renewable diesel. Neste Oil had net sales of EUR 17.5 billion in
2013 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index and the
Ethibel Pioneer Investment Register, and has featured in The Global 100 list
of the world's most sustainable corporations for many years. Forest Footprint
Disclosure (FFD) has ranked Neste Oil as one of the best performers in the
oil&gas sector. Further information:www.nesteoil.com


Oy AGA Ab is part of the Linde Group, one of the world's leading industrial
gases and technology companies. The Linde Group has approx. 63,500 employees
in more than 100 countries worldwide. Oy AGA Ab in Finland is part of Linde's
Northern European Unit, which covers the Nordic region together with the
Baltic countries. AGA is the leading supplier of industrial gases in its
sector and its comprehensive range of solutions includes gases, gas
equipment, process expertise, and training and maintenance services. Gas
technology developed by AGA helps customers improve their profitability,
safety, and quality, as well as protect the environment.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Neste Oil Oyj via Globenewswire


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