The market for heavy transportation vehicles is expected to grow from 2.800 to 280.000 vehicles in 2020s (source: NGVA), customer segment demanding substantial share of energy to be Bio-LNG. For the same period the biogas and Bio-LNG production is expected to grow in Europe from 191 TWh to 467 TWh (source: European Commission/EBA). Scandinavian Biogas expects substantial part of the growth to be in Bio-LNG.

Given the very attractive industrial outlook for biogas, SBF has decided as a long-term target to reach an annual biogas production capacity in Europe by 2030, on a level of 3 TWh biogas, mainly Bio-LNG. Based on the earlier communicated business plan the financial goal by 2024 to reach at least 700 GWh annual capacity is unchanged.

The targeted growth will be based on organic development as well as acquisitions. In the first phase the investments will be made in Northern and Central Europe. In order to enhance growth, a dedicated Group level function has been established focusing on Growth opportunities, in February 2022.

The current opportunity pipeline with potential growth projects and opportunities is very well aligned with the new 2030 production target to reach annual 3 TWh biogas and BIO-LNG production.